INTERVIEW: Egypt’s non-banking financial sector is fast growing, promising: CEO

Doaa A.Moneim , Monday 20 Feb 2023

The non-banking financial sector is a fast-growing and promising market in Egypt, Ahmed Kamal Selim, founder, CEO, and board member of Tadbiir for Leasing and Factoring, told Ahram Online.

Ahmed Kamal Selim
Ahmed Kamal Selim, Founder, CEO, and Board Member of Tadbiir for Leasing and Factoring


With a total capital of EGP 100 million, Tadbiir officially launched its non-banking financial services last week with the aim of better supporting small and medium-sized enterprises (SMEs) in the Egyptian market.

They are initially focusing on providing leasing and factoring services to help improve the financial environment for its customers in particular and society in general, in line with the Egyptian government's strategic vision towards financial inclusion.

In an interview with Ahram Online that took place on the sidelines of the launch event, Selim said that Tadbiir relies on an ambitious growth plan that reflects its confidence in the Egyptian market and its ability to provide innovative solutions to SMEs.

Their confidence is based in the company’s extensive diversified experience of its executive team in financial services for more than 25 years, he added.

According to company’s data, 47 percent of the SMEs in Egypt do not have access to banking services.

Tadbiir launched their operations in the fourth quarter of 2022, issuing a total of EGP 110 million in loans since then.

“The strategy of Tabdiir – being a customer-centric group – is designed with a concrete vision and clear objectives to offer affordable, accessible, and relevant financial products to SMEs in particular. The non-banking financing services, which amounted up to EGP 216 billion in 2022, reflects the need for expansion in order to serve this ever-growing market, especially those who cannot reach agreements with banks,” Selim said.

Despite being unable to get banking facilities, this segment has great opportunities for financing, Selim added.

“Thus, we are keen to serve and help them improve their financial environment; in line with the Egyptian government’s strategic vision towards financial inclusion. Tadbiir is experiencing high demand for its financial services and have successfully signed EGP 100 million in facilities and is currently negotiating with three banks to obtain new credit facilities worth EGP 500 million,” Selim explained.

Micro, small and medium-sized enterprises (MSMEs) account for 98 percent of the private sector activity in the Egyptian market and contribute to around 43 percent of the Egypt’s GDP, according to data published by the Central Bank of Egypt (CBE).

As per CBE data, MSMEs include 3.4 million micro-sized businesses, 2,200 medium-sized companies and 217,000 small-sized enterprises.

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