Tanmeyah Participates in the “Business Ya Shabab” Exhibition Held at Cairo International Stadium to Support Micro and Small Industries
تاريخ النشر: 27th, September 2023 GMT
Through its participation in the exhibition، Tanmeyah intends to provide a wide and diverse range of financing solutions to more than 150 young men and women running micro and small enterprises.
Tanmeyah for Microenterprise Services، a subsidiary of EFG Holding and Egypt’s leading provider of microfinance solutions، is delighted to announce its involvement in the inaugural edition of the "Business Ya Shabab" exhibition، held under the auspices of the Council of Ministers at the Cairo International Stadium at Pavilion B10.
This exhibition is scheduled to run from September 28th to October 4th of 2023، providing an inspirational platform for young entrepreneurs with micro and small enterprises to showcase their innovative products to the public and to potential investors. The event also incorporates dedicated educational workshops where young individuals can acquire valuable skills and insights into business.
In this context، Jinu Johnson، CEO of Tanmeyah، underscores that Tanmeyah’s participation in the exhibition aligns with the company’s vision of fostering growth and prosperity among young visionary entrepreneurs and artisans، supporting the pivotal role played by this dynamic segment in advancing Egypt's economic development. Johnson emphasizes that Tanmeyah stands out for its diverse range of financing solutions and highly flexible programs، meticulously designed to empower young entrepreneurs to realize their ambitions. This، in turn، positively impacts the overall development of the national economy through addressing unemployment.
By empowering the next generation of business owners، Tanmeyah plays an integral part in building an inclusive and sustainable economy with widespread benefits for the community. Participation in the exhibition marks an exciting step in Tanmeyah's ongoing efforts to develop Egypt's talent pool and bolster the country's efforts in promoting its micro-business ecosystem.
Launched in 2009، Tanmeyah has grown to become Egypt’s premier microfinance player، providing access to critical capital that can transform lives، build businesses، and drive socioeconomic change. With the widest branch network in the country، deep industry knowledge، and community ties، Tanmeyah has improved the lives and built businesses of millions across the country. Tanmeyah has issued over 2 million financing facilities of various types and sizes. It currently serves a client base of around 400،000 active borrowers through its network of over 306 branches and 4،200 employees in 25 governorates.
المصدر: بوابة الفجر
إقرأ أيضاً:
EFG Holding Delivers Resilient Operational Performance، reflected in the First Quarter Results of 2025، Driving Consistent Growth Across All Business Lines
EFG Holding، a financia institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA)، announced today its results for the first quarter of 2025. EFG Holding reported revenues of EGP 5.6 billion in 1Q25، marking a 34% Y-o-Y decline. However، this decrease was entirely attributable to the exceptionally high base in 1Q24، which included the effect of the large devaluation of the EGP against the US Dollar، translating into a substantial foreign exchange (FX) gain. Barring this FX impact، EFG Holding demonstrated exceptional operational performance، with all business lines showing resilience and strength. Excluding the impact of any FX gains over both periods، the Group’s revenues would be up 31% Y-o-Y، underscoring the Group’s robust execution and momentum across its core activities، mainly the Investment Bank، EFG Hermes، and the Non-Bank Financial Institutions (NBFI) Platform، EFG Finance، followed by the Commercial Bank، Bank NXT.
The Group’s total operating expenses (including provisions & ECL) decreased 29% Y-o-Y to EGP 3.5 billion، on lower employee expenses، lower provisions & ECL، and despite higher other G&A. Accordingly، the Group’s employee expenses/revenues came in at 37% in 1Q25 compared to 41% in 1Q24. EFG Holding’s net operating profit and net profit before taxes both lost 41% Y-o-Y. Consequently، net profit after tax and minority interest slipped 34% Y-o-Y to reach EGP 1.2 billion.
Karim Awad، Group CEO of EFG Holding، commented، “Our first quarter results reflect the strength and resilience of EFG Holding’s diversified platform and geographic footprint، even as we cycle a uniquely high base from last year. The year-on-year decline in revenues and net profit is predominantly attributable to the exceptional FX gains and unrealized investment revaluations recorded in 1Q24 following the large EGP devaluation that saw the EGP lose more than half of its value against the US Dollar in March 2024. When adjusted for these extraordinary items، our performance this quarter demonstrates solid operational growth across all lines of business and a clear trajectory of growth. Our Asset Management platform continues to grow، with AUMs on the rise، while our Investment Banking division executed landmark transactions during the quarter، including our leading role in the IPO of Nice One in KSA and the ADNOC Gas secondary offering in the UAE—further cementing our position as the advisory house of choice in the region.”
EFG Hermes، the Group’s Investment Bank، experienced a buoyant start to the year across its Sell-side and Buy-side divisions، with revenues posting solid Y-o-Y growth. However، this increase was pressured by Holding & Treasury Activities recording lower revenues Y-o-Y، as the comparable period included the impact of the EGP devaluation. This resulted in EFG Hermes’ revenues declining 54% Y-o-Y to EGP 2.9 billion. Excluding the impact of any FX gains across both periods، EFG Hermes revenues would be up 30% Y-o-Y. Holding & Treasury Activities revenues decreased 91% Y-o-Y to EGP 418 million. Sell-side revenues added 46% Y-o-Y to reach EGP 2 billion، and buy-side revenues rose 50% Y-o-Y to EGP 449 million، with both Egypt and regional AUMs also posting increases. EFG Hermes operating expenses declined 45% Y-o-Y to EGP2 billion، on lower employee expenses، lower provisions & ECL، and despite higher other G&A expenses. EFG Hermes reported net profit after tax and minority interest of EGP 652 million، down 54% Y-o-Y، on the decline of Holding & Treasury Activities.
EFG Finance، the Group’s Non-Bank Financial Institutions (NBFI) platform، started the year strong with its revenues rising 23% Y-o-Y to reach EGP 1.3 billion، supported by higher revenues generated by Tanmeyah، followed by Valu، and despite FX gains recorded in the comparable period mainly by Leasing and Factoring through EFG Corp-Solutions. Tanmeyah’s portfolio grew a healthy 36% Y-o-Y، representing an absolute increase of EGP 1.9 billion in 1Q25 versus 1Q24. Valu issued EGP 4.2 billion worth of new loans in 1Q25، up 61% Y-o-Y. EFG Finance’s operating expenses rose 12% Y-o-Y to EGP 900 million، on higher employee expenses and other G&A، overshadowing lower provisions and ECL. Net profit after tax and minority interest more than doubled، up 108% Y-o-Y to EGP 297 million، boosted by higher profitability reported by all lines of business.
Bank NXT، the Group’s Commercial Bank، delivered a steady performance، honing in on strong portfolio growth. Its revenues increased 11% Y-o-Y to EGP 1.4 billion in 1Q25، largely driven by higher net interest income، due to interest rate hikes of 800 bps during 2024، in addition to growth in interest-earning assets. Operating expenses، including provisions & ECL، rose 19% Y-o-Y to EGP 624 million in 1Q25، primarily due to higher salaries، as well as higher other G&A expenses. The Bank’s net profit after tax added 5% Y-o-Y to reach EGP 498 million (of which the Group’s share is EGP 255 million) in 1Q25، as revenue growth outpaced the growth in expenses.
“During the quarter، our Brokerage business continued to thrive، especially in markets such as Kuwait and the UAE، where our geographic diversification strategy bears fruit. Bank NXT is expanding its portfolio and building a strong pipeline of deals that will support growth and have impactful long-term results. In Private Equity، we’re proud to report our first quarter of management fees from the Saudi Education Fund—a key milestone in our regional expansion story. Meanwhile، our Non-Bank Financial Institutions (NBFI) platform remains steadfast in delivering comprehensive financial solutions to clients across the spectrum، from individual retail customers to businesses of all sizes. Valu’s progress towards listing represents a significant milestone for the fintech leader، underscoring its remarkable growth trajectory in Egypt and solidifying its position as a trusted provider of innovative financial services. Tanmeyah remains a strong performer in its segment. Looking ahead، we remain focused on executing our strategic priorities، cementing our regional footprint، and creating sustainable value for our shareholders.،” concluded Awad.
EFG Holding’s 1Q25 financial results and management’s commentary are available.
البابا تواضروس: الكنيسة تربطها علاقات طيبة ومتينة مع الرئيس السيسي والأزهر