NI Capital’s Tamweely receives final microfinance license

NI Capital’s Tamweely announced yesterday that it received its final microfinance license on 8 July, which will allow the company to officially launch its operations, the company said in a press release (pdf). Tamweely was established in August by state-owned investment bank NI Capital with an initial investment of EGP 50 mn. The company had said in May that it was looking to expand its number of branches to 15 across the country by 2019.