Egypt’s Tamweely to launch microinsurance, financial leasing services

NI Capital’s microfinance arm Tamweely is about to finalize an EGP 100 mn loan agreement with local banks to fund its expansion into microinsurance and financial leasing, Chairman Amr Abo El Azm said. The company had recently secured a EGP 30 mn loan from the National Bank of Egypt. Tamweely will set up a center to teach finance and push forward with expansion plans in the country.