– A consortium including SPE Capital, EBRD, TCV, and BII has acquired Tamweely Microfinance for over $52 million, purchasing it from Ayady, NI Capital, and Post for Investment.

– Founded in 2017, Tamweely serves over 500,000 clients and has disbursed more than $540 million, operating 230 branches and employing over 3,950 loan officers across Egypt.

– The new investors will collaborate with CEO Ahmed Khorched to enhance Tamweely’s infrastructure, expand its product offerings, and increase financial inclusion for underserved populations in Egypt.

A consortium of investors including SPE PEF III (SPE Capital), the European Bank for Reconstruction and Development (EBRD), Tanmiya Capital Ventures (TCV), and British International Investment (BII) has acquired Tamweely Microfinance (Tamweely), a non-banking financial services provider for micro, small, and medium enterprises (MSMEs) in Egypt.

The transaction, valued at over USD 52 million, involves purchasing the company from Ayady for Investment & Development, NI Capital Holding for Financial Investments, and Post for Investment Company.

The consortium will work with CEO Ahmed Khorched and Tamweely’s management to enhance the company’s infrastructure, expand its product offerings, and reach underserved populations in Egypt.

Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, stated, “The divestment of government entities from Tamweely for Microfinance in favor of a consortium of international investors exemplifies the government’s vision to empower the private sector, attract both local and foreign investments, and gradually withdraw from certain sectors. This aligns with the implementation of the State Ownership Policy and aims to maximize returns on state assets.

“Tamweely serves as a model of successful government investments that have significantly contributed to the growth of the non-banking financial sector, enhanced financial inclusion, generated job opportunities, and supported social and economic development initiatives. Today, Tamweely’s achievements showcase the potential of public-private partnerships to drive economic growth and promote financial inclusion.”

Hassan El-Khatib, Minister of Investment and Foreign Trade, remarked, ” I anticipate that this will mark the beginning of increased direct investment inflows into the real economy, especially after the significant developments our country has made in sustainable infrastructure over the past decade.

“The Ministry of Investment is dedicated to enhancing the investment environment to attract more direct investments, and we stand ready to provide the necessary support to this investment consortium as well as any local or foreign investors interested in investing in Egypt.””

Ahmed Khorched, CEO of Tamweely, “We are very happy to welcome our new partners to Tamweely. The backing of leading international financial institutions is a testimony to Tamweely’s success and unique profile in the market. We have ambitious plans for the company and look forward to combining our strengths to create value for all our stakeholders.”

The consortium was advised by MF Strategy, Mediterranean Corporate Finance (MCF), Helmy, Hamza and Partners, BLC Robert & Associates, PricewaterhouseCoopers, and IBIS Consulting. The transaction is subject to regulatory approvals and satisfaction of certain conditions.

Established in 2017, Tamweely has become a major player in Egypt’s non-bank financial sector, serving over 500,000 clients with more than USD 540 million disbursed. The company operates 230 branches and employs over 3,950 loan officers across 24 governorates.