Banque Misr Signs EGP 500 Million Credit Facility Agreement with Tanmeyah to Support Small and Micro Enterprises

Banque Misr Signs EGP 500 Million Credit Facility Agreement with Tanmeyah to Support Small and Micro Enterprises

In a move to bolster small and micro enterprises and contribute to sustainable economic development, Banque Misr has signed a significant EGP 500 million credit facility agreement with Tanmeyah, a subsidiary of EFG Holding and a leading provider of financial services in Egypt focusing on the micro and small enterprise segments.

The agreement, signed by Mr. Mohamed El-Etreby, Chairman of Banque Misr, and Mr. Mostafa Gamal, Head of the Financial Institutions and Correspondents Sector, aims to provide Tanmeyah with various financing solutions, including short and medium-term loans, to support its clients—particularly individuals and small business owners—under favorable terms and competitive rates.

Mr. El-Etreby highlighted Banque Misr’s commitment to supporting and developing small and micro enterprises, emphasizing the importance of these projects in driving economic growth and creating job opportunities. He praised the cooperation between Banque Misr and Tanmeyah, noting the successful completion of financing procedures at various stages.

Mr. Jinu Johnson, CEO and Managing Director of Tanmeyah, expressed excitement about the partnership with Banque Misr, emphasizing their shared goal of providing financial services to underserved segments of society. He highlighted Tanmeyah’s mission to empower small businesses and lower-income individuals, particularly women and youth, through financial inclusion and sustainable business growth.

Tanmeyah, with nearly three million financing packages issued since its inception, operates 305 branches across 25 Egyptian governorates, serving around 30,000 customers monthly with a workforce of approximately 5,000 employees. The extensive network ensures that a significant number of customers will benefit from the advantages of this agreement across the country.

Banque Misr’s collaboration with Tanmeyah reflects its dedication to offering advanced and accessible banking and financial services while supporting national and strategic development initiatives. The bank’s commitment to sustainability and continuous progress underscores its role in driving economic prosperity and inclusive growth in Egypt.