“Abu Al-Azm”: “Tamwely” portfolio reached 906 million pounds in 2020

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Engineer Amr Abul-Azm, Vice Chairman and Managing Director of Tamweely Microfinance Company, said that financing small and medium enterprises in Egypt has witnessed rapid development and growth in the past 4 years.

He added, in a symposium held by the Egyptian Lebanese Association, that behind this growth were the directives of the political leadership and the decisions of the Central Bank to direct banks to work as portfolios to finance small and medium youth projects, entrepreneurship, support and empower women and expand financial inclusion.

He pointed out that Tamweli is the only microfinance company whose capital is contributed by government companies, in addition to paying attention to the digital transformation of customers.

The company operates in accordance with the state’s components and objectives related to sustainable development, and the year 2020 witnessed an outstanding performance for the company with the growth of the number of customers, financing portfolio and branches, and more than 73 thousand customers benefited from the services, and the company’s portfolio increased by 53%, which amounted to 906 million pounds, compared to 593 million pounds. in 2019.

The article “Abu Al-Azm”: The “Tamweli” portfolio amounted to 906 million pounds in 2020 written in Al Borsa newspaper.