Tamweely seeks EGP 300 mn in loans from two Egyptian banks

Tamweely Microfinance is negotiating with two unnamed banks to borrow EGP 300 mn to increase its women-focused funding portfolio and open several new offices, Chairman and Managing Director Amr Aboul Azm tells Al Mal. Tamweely is also ready to begin offering nano lending services, which were greenlit by the Financial Regulatory Authority earlier this month, Aboul Azm said.