Cairo – Mubasher: Al Tadamun Microfinance Foundation has pumped EGP 1.40 billion during the first nine months (9M) of 2022, a rise of 41% when compared to EGP 987 million in the same period in 2021.
From January to September 2022, the foundation provided up to 70,590 loans, an increase of 31% when compared to 53,870 loans in 9M-21, the Middle East News Agency (MENA) reported.
The foundation’s active funding portfolio grew by 39% in 9M-22 to EGP 990 million, compared to EGP 710.80 million in 9M-21.
In the meantime, the number of females benefitting from the existing funding portfolio rose by 18% on an annual basis in the January-September 2022 period to 226,440 from 192,040.
By the end of September 2022, the foundation had 112 branches distributed among 14 governorates, compared with 90 branches by the end of September 2021.
Al Tadamun Microfinance Foundation is one of the top microfinance institutions in Egypt. The foundation supports underprivileged Egyptian women micro-entrepreneurs for a source of finance to set up, sustain, and expand their microenterprises, thus generating more income for themselves and their families.
Al Tadamun ended 2021 with a total of 213,245 active clients with a portfolio of EGP 835.60 million.
