Al-Tadamun Microfinance Foundation, a leading organization in microfinance for women in Egypt, reported a strong performance in the first half of 2024, with a notable 25.2% year-over-year increase in its active loan portfolio.

This growth highlights the foundation's pivotal role in promoting economic activities and sustainable development within the country.

By the end of June 2024, the foundation’s outstanding loan portfolio exceeded EGP 1.4 billion, marking its leadership in supporting women-led micro-projects. The active loan portfolio reached approximately EGP 1.42 billion, compared to EGP 1.13 billion in June 2023, showcasing significant growth.

During the first six months of 2024, Al-Tadamun disbursed EGP 1.29 billion in loans, reflecting an 18.1% increase from the EGP 1.09 billion issued in the same period of the previous year.

Reham Farouk, CEO of Al-Tadamun, emphasized that these results reflect the foundation's successful business strategy. She highlighted the importance of supporting small, medium, and micro enterprises (SMMEs), which are vital to Egypt's economic growth and contribute significantly to creating sustainable job opportunities. This support is aligned with Egypt’s Vision 2030, focusing on women's economic empowerment and financial inclusion.

Farouk also pointed out that the foundation offers various financing programs, including individual loans, group loans, family loans, and golden loans, along with non-financial services, to reach a broader segment of women entrepreneurs.

Kareem Gomaa, CFO of Al-Tadamun, discussed the foundation’s collaboration with the National Bank of Egypt to expand the issuance of Meeza cards, which enable clients to access funds through ATMs. By the end of June 2024, approximately 125,361 Meeza cards had been issued.

Furthermore, Gomaa noted that Al-Tadamun is committed to Egypt’s digital transformation, with 99% of clients now paying their instalments electronically through various payment platforms such as Fawry, OPay, and Masary.

The foundation continues to expand its reach, operating 119 branches across 15 governorates and three mobile branches, ensuring that its services are accessible to a wider range of clients.