Al Tadamun Microfinance Foundation, a leading micro-enterprise funding institution for women, provided financing worth approximately EGP 2.4bn in 2024, compared to EGP 2.34bn in 2023. This initiative aligns with the state’s efforts to enhance women’s economic empowerment.
Mona Zulfikar, Chairperson of the Foundation’s Board of Trustees, emphasized that this achievement reflects the Foundation’s commitment to expanding financial access for women entrepreneurs, fostering financial inclusion, and driving economic growth.
Zulfikar also underscored the crucial role of supporting micro, small, and medium enterprises (MSMEs) in Egypt, given their significant contribution to economic expansion, job creation, and improved living standards. These efforts align with Egypt’s sustainable development strategy and Vision 2030.
Reham Farouk, CEO of the Foundation, expressed pride in the organization’s consistent strong performance and acknowledged the dedication of its employees in reaching women business owners nationwide. She reiterated the Foundation’s focus on empowering women to grow their businesses and improve their livelihoods. Farouk highlighted the organization’s commitment to technological advancements and digital transformation, noting that electronic installment payments via POS machines reached a remarkable 99%, in accordance with the Financial Regulatory Authority’s (FRA) directives for enhancing services in the non-banking financial sector.
As part of its expansion strategy, the Foundation recently inaugurated 10 new branches, increasing its total to 122 across 15 governorates in 2024. Additionally, three mobile branches were introduced to extend its services to a broader customer base.
Karim Gomaa, the Foundation’s Financial Director, announced that 2,853 Meeza cards were issued to clients in collaboration with the National Bank of Egypt (NBE) in 2024, bringing the total to over 128,000 by year-end. He highlighted several milestones achieved last year, including the Foundation’s first presence in Sohag and the launch of the “Individual Plus” financing product. This new product allows financing of up to EGP 100,000 from the initial transaction, further broadening financial access for entrepreneurs.
