By: Islam Fadl

Cairo – Mubasher: Tamweely Microfinance has opened its first branch in El Husseiniya, located in the governorate of Sharqia, early August, chairman Amr Abou El Azm said.

The Egypt-based company, which offers full-fledged financial products and services backed by technology solutions to channel finance to individuals and micro-enterprises, is looking to inaugurate six new branches in September to reach 15 branches across the Nile Delta area and upper Egypt by the end of 2018, the chairman added in a phone call to Mubasher.

In July, Abou El Azm said that Tamweely was planning to inject EGP 100 million in financing between July and December.

In May, the company was in talks with banks to obtain an EGP 200 million loan.