EGP 7.12 Bn Value Of Micro Funding Activities By End Of 2017Source: www.export-egypt.com 2/18/2018, Location: Africa |
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Egyptian Financial Supervisory Authority Chairman Dr Mohamed Omran said micro funding is still achieving positive results after three years of issuing a law that regulates micro funding activities in Egypt, referring to reports that it reached more than EGP 7.12 billion by the end of 2017 with a growth rate of 59%, compared with the same period in 2016 when the figure was EGP 4.49 billion.
The growth in the value of micro funding has reflected positively on the number of beneficiaries to reach around 2.260 million clients with a 24% increase by 2017, compared with only 1.8 million clients by the end of 2016, Omran said in a statement. The map of funded commercial activities monitored a progress of 61.4% in market quota with funding value worth EGP 4.37 billion serving 1.51 million clients, he added. |
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