A consortium of investors comprising SPE PEF III (SPE Capital), the European Bank for Reconstruction and Development (EBRD), Tanmiya Capital Ventures (TCV) and British International Investment (BII) has fully acquired Tamweely Microfinance in a deal exceeding EGP 2.50 billion.

The transaction was implemented with Ayady for Investment and Development, NI Capital Holding for Financial Investments, and Post for Investment Company, according to a press release.

Meanwhile, the acquisition closing remains subject to regulatory approvals and meeting certain conditions agreed between the parties.

Tamweely is a leading non-banking financial services company in Egypt specialising in serving micro, small and medium enterprises (MSMEs).

Established in 2017, Tamweely Microfinance has emerged as a key player in the Egyptian non-bank financial services sector, offering financing and ancillary services created to empower MSMEs.

Tamweely has served more than 500,000 clients and disbursed above EGP 17 billion since its inception. It currently operates a network of 230 branches and over 3,950 loan officers across 24 governorates.

Rania El-Mashat, Minister of Planning, Economic Development, and International Cooperation, commented: "Tamweely serves as a model of successful government investments that have significantly contributed to the growth of the non-banking financial sector, enhanced financial inclusion, generated job opportunities, and supported social and economic development initiatives."

Hassan El-Khatib, Minister of Investment and Foreign Trade, indicated: "I anticipate that this will mark the beginning of increased direct investment inflows into the real economy, especially after the significant developments our country has made in sustainable infrastructure over the past decade."

Osama Saleh, Chairman of Ayady, stated: “As we exit now, I take pride in the solid foundation we've established and the positive impact we've had on micro and small businesses, as well as local communities. This successful exit marks a new chapter, and I look forward to seeing Tamweely continue to flourish under new management.”

Ahmed Khorched, CEO & Managing Director of Tamweely, pointed out: “We have ambitious plans for the company and look forward to combining our strengths to create value for all our stakeholders.”

Ahmed El-Oraby, Partner, and Nabil Triki, Managing Partner of SPE Capital, underlined: “Egypt’s non-banking financial services sector has demonstrated favourable fundamentals and presents a tremendous opportunity to extend digital financial services to the under-banked and under-served segments of society.”

“We look forward to building on the success of the founding shareholders and supporting the company as it scales its operations, technology and digital infrastructure and organization and pursues its ambitious growth plans and impact agenda,” they added.

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