Al Tadamun Microfinance Foundation, a leading institution dedicated to funding women-led micro-enterprises, provided about EGP 2.4 billion in financing in 2024, marking a slight increase from EGP 2.34 billion in 2023. This growth aligns with Egypt’s broader efforts to enhance women’s economic empowerment and create greater financial inclusion for entrepreneurs.
Commitment to Women’s Economic Empowerment
Mona Zulfikar, Chairperson of the Foundation’s Board of Trustees, emphasized that this achievement underscores the Foundation’s dedication to expanding financial access for women entrepreneurs. Zulfikar stressed the importance of fostering financial inclusion as a key driver of economic growth, particularly for micro, small, and medium enterprises (MSMEs), which are integral to job creation and improving living standards in Egypt.
The Foundation’s initiatives are in line with Egypt’s Vision 2030 and sustainable development strategy, both of which prioritize economic expansion and the enhancement of local entrepreneurship.
Paving the Way for MSMEs Growth
Reham Farouk, CEO of Al Tadamun Microfinance Foundation, expressed pride in the Foundation’s continued strong performance and the dedication of its staff. She highlighted the organization’s role in empowering women to grow their businesses and improve their livelihoods across the country. Farouk also noted the Foundation’s emphasis on technological progress, particularly with its 99% success rate in electronic installment payments via POS machines, in compliance with the Financial Regulatory Authority’s directives.
Expansion and New Products
As part of its growth strategy, Al Tadamun Microfinance Foundation opened 10 new branches in 2024, bringing its total to 122 branches across 15 Egyptian governorates. The Foundation also introduced three mobile branches, enhancing its ability to serve clients in more remote areas.
Karim Gomaa, the Foundation’s Financial Director, announced the issuance of 2,853 Meeza cards in partnership with the National Bank of Egypt (NBE) in 2024, bringing the total number of Meeza cards to over 128,000 by the end of the year. Gomaa also highlighted the launch of the “Individual Plus” financing product, which provides financing of up to EGP 100,000 from the first transaction. This new product is designed to further increase access to financial resources for Egypt’s entrepreneurs, empowering them to grow and scale their businesses.
