Egypt’s Tamweely to securitize 20% of its micro-loans portfolio bonds this year

DEBT WATCH- State-owned NI Capital’s microfinance arm Tamweely Microfinance is planning to securitize up to 20% of its loans portfolio before the year is out, CEO Amr AbouElazm said, according to Al Mal. The company, which is aiming to diversify its funding sources and is currently in talks to secure EGP 200 mn from local banks, has a portfolio worth EGP 1 bn in micro-loans.