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Tamweely wins ‘Fastest Growing Microfinance Company’ award

Tamweely wins ‘Fastest Growing Microfinance Company’ award

ArabFinance: Tamweely Microfinance has won The Global Economics Awards 2021 for “Fastest Growing Microfinance Company”, the company said in an emailed press release.

Ahmed Khorched, CEO of Tamweely, has also been awarded “Most Emerging CEO in Microfinance”.

Over the last three years, Tamweely Microfinance has grown into a viable non-banked financial institution serving over 141 thousand client with a loan portfolio exceeding EGP 3.6 billion of which 46% are women entrepreneurs and 79% reside in Upper Egypt.

Currently, the company has over 2,000 employees across a network of 97 branches in 15 governorates in Egypt and with a strategy to cover all governorates within the next few years.

In 2020, the company has witnessed growth in terms of clientele, loan portfolio and branches. Up to 73,000 clients benefited from the services offered by Tamweely compared to 52,000 clients in 2019 and this illustrates a growth of 41%. 

Tamweely’s gross loan portfolio has grew by 53% in 2020, booking EGP 906 million against EGP 593 million in 2019. 

The company disbursed 67,000 loans in 2020, an increase of 18% from 56,000 in 2019. Number of branches has grown by 51% in 2020.

“We are honored for the recognition that has been given to Tamweely Microfinance for its growth performance and it is a testament to all the efforts that have been made by the employees during the pandemic,” Khorched commented.

 

 

 

 

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