A consortium of international investors, including SPE Capital, the European Bank for Reconstruction and Development (EBRD), Tanmiya Capital Ventures (TCV), and British International Investment (BII), has acquired Tamweely Microfinance S.A.E. in a transaction valued at over EGP 2.5 billion (~USD 57 million). The acquisition marks a significant shift in Egypt’s non-banking financial services sector as the consortium takes control of Tamweely from its former shareholders Ayady for Investment & Development, NI Capital Holding, and Post for Investment Company. Established in 2017, Tamweely has grown into a leading player in Egypt’s financial sector, focusing on micro, small, and medium enterprises (MSMEs). The company, which operates across 24 governorates with 230 branches and over 3,950 loan officers, has served more than 500,000 clients and disbursed over EGP 17 billion. The consortium plans to work closely with Tamweely’s CEO and Managing Director, Ahmed Khorched, to expand the company’s operations and product offerings. The goal is to enhance Tamweely’s infrastructure and continue its mission to provide seamless financial services to underserved populations across Egypt. The acquisition also aligns with Egypt’s broader economic goals, particularly its State Ownership Policy. Commenting on the transaction, Rania Al-Mashat,…
International Consortium Acquires Egypt’s Tamweely in EGP 2.5 Billion Deal
September 9, 2024
