By: Islam Fadl
Cairo – Mubasher: Tamweely Microfinance has signed a deal with five banks to obtain 50% of a financing package worth EGP 200 million.
The company will get an EGP 100 million financing from the five lenders and will acquire the final licences by the end of next August, Tamweely’s chairman Amr Abu El Azm told Mubasher.
The full-fledged financial products and services provider will begin its microfinance activities after getting the approval of the current licences, he added.
Abu El Azm noted that he was elected as a member of international microfinance council for Africa and Europe.
In May, Tamweely was in talks with banks to obtain an EGP 200 million loan.
