| Project Detail |
Location:
Egypt
Project number:
54044
Business sector:
Financial institutions
Notice type:
Private
Environmental category:
FI
Approval date:
21 Feb 2024
Status:
Signed
English-language PSD published:
09 Sep 2024
Provision of an equity investment for the full acquisition of Tamweely for Microfinance (TW) alongside a consortium of investors made up of EBRD, SPE Capital, Tanmiya Capital Ventures (TCV), and British International Investment (BII).
Project Objectives
The project entails a full divestment by Egyptian State affiliates of one of the fastest growing microfinance institutions (MFIs) in Egypt. The company will benefit from strengthened governance, in full alignment with regional standards and international best practice. The EBRD will also, alongside its co-investors, support TWs plans to grow its existing microfinance portfolio and expand into new products such as SME finance. The project will facilitate access to finance for private sector businesses, including MSMEs, which remain underserved in the Egyptian market, and generally increase the reach of TW for underserved segments by incorporating a significant gender angle. |
