Egypt: Banque Misr, Tanmeyah pen $10.3mln credit facility to back SMEs

Reuters/REUTERS

The agreement will provide Tanmeyah with financing solutions, including short and medium-term loans, to support its clients, especially small business owners

Staff Writer, Arab Finance

PHOTO

Banque Misr has signed a credit facility agreement worth EGP 500 million with Tanmeyah, a subsidiary of EFG Holding, to support small and micro enterprises in Egypt, as per an emailed press release.

The agreement will provide Tanmeyah with financing solutions, including short and medium-term loans, to support its clients, especially small business owners, under favorable terms and competitive rates.

Since its inception, Tanmeyah has issued nearly three million financing packages of various types and sizes.

The company operates approximately 305 branches across 25 Egyptian governorates, serving about 30,000 customers monthly with a workforce of around 5,000 employees.

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