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, Minister of Planning, Economic Development and International Cooperation, praised the divestment of government entities from Tamweely. “This deal exemplifies the government’s commitment to empowering the private sector and attracting local and foreign investments,”
Hassan El-Khatib, Minister of Investment and Foreign Trade, echoed these sentiments, emphasizing the importance of the transaction in fostering international investor confidence in Egypt’s economy. “This acquisition is a testament to the progress Egypt has made in creating a sustainable investment environment,” he said.
The EBRD’s involvement in the acquisition underscores its commitment to Egypt’s privatization agenda and boosting the competitiveness of the private sector. Alongside its co-investors, the EBRD aims to help Tamweely scale domestically and become one of Egypt’s top microfinance providers. Additionally, the EBRD is promoting women-led MSMEs through Tamweely, providing technical assistance funded by the Women Entrepreneurs Finance Initiative (We-Fi). Tamweely will also join the national coalition led by the Central Bank of Egypt to increase funding and build the ecosystem for women-led enterprises.
The acquisition reflects Egypt’s ongoing efforts to optimize returns on state assets and encourage private sector participation. The State Ownership Policy (IPO) program, launched in 2023, targets significant investments in state-owned companies to generate up to USD 2.5 billion in revenue by FY2024/2025.
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