Qardy, an online lending marketplace, has formed a strategic partnership with Sandah, a for-profit microfinance company, to empower and support micro, small, and medium enterprises (MSMEs) in Egypt. The partnership aims to provide MSMEs with the tools and resources they need to succeed in a competitive business environment, and to bridge the financial gap in the MSME sectors in Egypt by offering a range of products and services tailored to their various needs.
Abdelaziz Abdel Nabi, founder of Qardy, said that the partnership with Sanda aims to widen the coverage to include all sectors of MSMEs, and to provide them with the best financial products to manage their cash flow cycles and cover their working capital needs.
Suhail Rashwan, CEO and Managing Director at Sandah, said that the partnership with Qardy seeks to provide appropriate and innovative financing to business owners in line with the state’s plans to achieve financial inclusion for different segments of society. He said that Sandah provides different financing models for all sectors of economic activities in Egypt, and encourages a culture of entrepreneurship, microfinance, and self-employment among young people. He added that Sanda is currently present in many Egyptian governorates, as well as electronic channels and financial technology, to reach the largest customer base smoothly and conveniently.
Rashwan added that Sandah, in cooperation with Qardy, aims to provide a unique experience that offers comprehensive solutions to meet the needs of business owners and reach a larger segment of customers in various regions in all governorates.
