Cairo – Mubasher: Raya Holding for Financial Investment announced that its subsidiary Aman for Microfinance is planning to inject finance worth EGP 700 million during 2019.
Aman for Microfinance is in talks with several banks and financial institutions to secure the required finance for projects, Raya said in a statement to the Egyptian Exchange (EGX) on Sunday.
Since the beginning of 2019, the company’s financing portfolio has reached EGP 250 million.
The Egyptian firm seeks to raise its finance portfolio to EGP 500 million in a bid to serve 60,000 customers by the end of this year.
The company provided more than 15,500 customers with finance amounting to EGP 104 million.
In addition, Raya decided to double Aman for Microfinance’s capital to EGP 100 million from EGP 50 million.
