Samy pointed out that 2016 saw growth in the microfinance activity, noting that the current volume of financing across companies and civil society organisations in this activity reached EGP 4.5bn by the end of 2016. He added that civil society organisations account for 77% of the micro finance market, versus 23% for companies in terms of the size of funding. Meanwhile, civil organisations account for 84% of the number of clients, against 16% for companies. Samy pointed out that microfinance funding is one of the pillars of financial inclusion in Egypt, noting that this funding achieved positive results in terms of empowering women with financial services. It was also ranked first in terms of the number of beneficiaries, comprising 67% of the total number of clients.

Source: Daily News Egypt May 28, 2017 09:22 UTC