A consortium of investors comprising SPE PEF III (SPE Capital), the European Bank for Reconstruction and Development (EBRD), Tanmiya Capital Ventures (TCV) and British International Investment (BII) has fully acquired Tamweely Microfinance S.A.E (Tamweely) in a deal exceeding EGP 2.5 Billion.

This was in the presence of Minister of Planning and International Cooperation, Rania Al-Mashat, and Minister of Investment and Foreign Trade, Hassan El-Khatib.

 The consortium will partner with CEO and Managing Director, Ahmed Khorched and Tamweely’s management on scaling up the company’s infrastructure, organization and operations and further expanding the company’s suite of products to serve Egypt’s unbanked and underserved populations.

Al-Mashat added that the divestment of government entities from Tamweely for Microfinance in favor of a consortium of international investors exemplifies Egypt’s vision to empower the private sector and attract both local and foreign investments.

This aligns with the implementation of the State Ownership Policy (IPO) program and aims to maximize returns on state assets.

El-Khatib expressed the Ministry of Investment’s commitment to enhance the investment environment to attract more direct investments, and to provide the necessary support to this investment consortium as well as any local or foreign investors interested in investing in Egypt.

Tamweely has served more than 500k clients and disbursed more than EGP 17B since its inception in 2017.

The company operates a branch network of 230 branches and more than 3,950 loan officers, across 24 governorates.