Al Tadamun Microfinance Foundation of Egypt is launching three vehicles that will serve as mobile branches in the regions of Cairo, Dakhalia and Minya. Among the goals of the effort are to “contribute to the speed of disbursement of financing and reducing the cost of time and money incurred by the client in order to reach the fixed branches.”
Al Tadamun primarily serves female microentrepreneurs through individual and group loans as well as Meeza payment cards. These cards give 22 million Egyptians access to mobile wallets plus 14,000 automated teller machines and 98,000 retail point-of-service terminals. Al Tadamun also offers microinsurance and non-financial services such as access to markets and recreational opportunities.
Founded in 1996, Al Tadamun employs 2,200 staff at 112 branches, serving 240,000 people. For the calendar year 2021, the institution generated a deficit of EGP 37 million (USD 1.2 million) on revenue of EGP 321 million (10 million), along with return on assets of -4 percent and return on equity of -16 percent.
By Rohit Dayanand, Research Associate
Sources and Additional Resources
Daily News Egypt article
https://www.dailynewsegypt.com/2023/04/13/al-tadamun-microfinance-foundation-launches-its-first-mobile-branch-in-egyptian-market/
Al Tadamun homepage
https://altadamun.org/
Al Tadamun 2021 Impact Report
http://altadamun.org/wp-content/uploads/2017/12/Tadamun-Annual-2021-English.pdf
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