Women Account for the Higher Share of Microfinance, with a Share of 56.7%

The value of microfinance balances in Egypt grew to EGP 65.2 billion by the end of the second quarter of 2024, compared to EGP 45.4 billion during the same period last year, with a growth rate of 43.4%, and the number of beneficiaries decreased to 3.8 million beneficiaries, with a decline rate of 2.3%. Microfinance activities were distributed according to the type of beneficiary (males and females) as follows:

Funding for males

• The financing balances granted to male clients at the end of the second quarter of 2024 amounted to about EGP 29.9 billion for a number of beneficiaries of about 1.63 million beneficiaries, compared to the end of the second quarter of 2023, in which the financing balances amounted to about EGP 22.5 billion for a number of beneficiaries of about 1.6 million beneficiaries.
• The market share of financing balances for male customers at the end of the second quarter of 2024 ranked first at 53.2%, while it ranked second in terms of the number of beneficiaries at 43.2%.

Funding for females

• The financing balances granted to female clients at the end of the second quarter of 2024 amounted to about EGP 26.3 billion for a number of beneficiaries of about 2.2 million beneficiaries, compared to the end of the second quarter of 2023, in which the financing balances amounted to about EGP 19.7 billion for a number of beneficiaries of about 2.3 million beneficiaries.
• The market share of financing balances for female customers at the end of the second quarter of 2024 ranked second at 46.8%, while it ranked first in terms of the number of beneficiaries at 56.7%

Microfinance means any financing for economic, productive, service, or commercial purposes in the fields and at the value determined by the Board of Directors of the Financial Regulatory Authority.

Contribution of low-income groups to economic activity. Access to various financing methods for individuals and owners of micro-enterprises contributes to reducing unemployment and contributing to improving the incomes of the poorest families, and has a positive impact on increasing the volume of investment and employment in the national economy.