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Microfinance loans rise to EGP 17.7bn in 2018

Tuesday 19 February 2019 10:56 PM


By Ahmed Al - Desouki

Egyptian Union of Microfinance Chairman Mona Zulfakar said that Egypt's industry witnessed steady growth over the past year.

Zulfakar  pointed out that the total financing portfolio amounted to EGP 17.7 billion at the end of December 2018, compared to EGP 10.9 billion at the end of December 2017, up 63%.

The beneficiary base grew by 25% to 3.1 million customers, instead of 2.5 million during the comparison period, she added.

Zulfakar  further mentioned in a statement on Tuesday that women continue to acquire the largest share of funding, accounting for 50.2 percent of total funding and 67.7 percent of beneficiaries.