{"id":560471,"date":"2021-03-01T04:16:17","date_gmt":"2021-03-01T04:16:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/"},"modified":"2021-03-01T04:16:17","modified_gmt":"2021-03-01T04:16:17","slug":"2020-was-a-slower-year-for-microfinance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/","title":{"rendered":"2020 was a slower year for microfinance"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Microlending still grew in Egypt in 2020 \u2014 just at a slower rate than it did in the previous two years.<\/strong> <a href=\"http:\/\/www.fra.gov.eg\/content\/efsa_ar\/efsa_report\/report_efsa146.htm\">Figures (pdf)<\/a> released by the Financial Regulatory Authority yesterday showed that lending grew 17% y-o-y to EGP 19.3 bn last year, a noticeably slower rate of growth than that of 2019, when microloans surged <a href=\"http:\/\/www.fra.gov.eg\/content\/efsa_ar\/efsa_report\/report_efsa145.htm\">43.5% y-o-y (pdf)<\/a> and 2018, when it grew <a href=\"http:\/\/www.fra.gov.eg\/content\/efsa_ar\/efsa_report\/report_efsa105.htm\">62% y-o-y (pdf)<\/a>.<\/p>\n<p><strong>In detail:<\/strong> Around 3.2 mn people took out microloans in 2020, compared to 3.1 mn and 2.8 mn in 2019 and 2018 respectively, with women accounting for 60% of the total and Upper Egypt governorates accounting for 54%.<\/p>\n<p><strong>Why the slump?<\/strong> Some players stopped extending new loans and only focused on collections in 2Q2020 and 3Q2020 to mitigate risks and bad loans during the pandemic, Associate Vice President of Financials at Beltone Financial Abanob Magdy told Enterprise. Once the initial market meltdown had tapered off, lending began to pick up again in 4Q2020, Magdy said.<\/p>\n<p><strong>Growth is expected to accelerate this year:<\/strong> Beltone expects the value of microloans to expand by 23% in 2021 as covid-fueled fears abate and businesses begin to operate normally. The entry of new players into the market will continue to support lending growth but will also put pressure on income margins, Magdy said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Microlending still grew in Egypt in 2020 \u2014 just at a slower rate than it did in the previous two years. Figures (pdf) released by the Financial Regulatory Authority yesterday showed that lending grew 17% y-o-y to EGP 19.3 bn last year, a noticeably slower rate of growth than that of 2019, when microloans surged [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":560472,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7691],"tags":[72,593,7087,76,242,311],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-enterpriseam","tag-factoring","tag-finance","tag-financial-regulatory-authority","tag-leasing","tag-microfinance","wpautop","entry"],"acf":{"mongo_id":"533aeb19-5e49-4b23-b43d-cf929141928e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/38.jpg","photo_position":"above","related_issue":[560460],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>2020 was a slower year for microfinance - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2020 was a slower year for microfinance\" \/>\n<meta property=\"og:description\" content=\"Microlending still grew in Egypt in 2020 \u2014 just at a slower rate than it did in the previous two years. Figures (pdf) released by the Financial Regulatory Authority yesterday showed that lending grew 17% y-o-y to EGP 19.3 bn last year, a noticeably slower rate of growth than that of 2019, when microloans surged [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-01T04:16:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/38.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"2020 was a slower year for microfinance\",\"datePublished\":\"2021-03-01T04:16:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/\"},\"wordCount\":202,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/38.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"factoring\",\"Finance\",\"Financial Regulatory Authority\",\"leasing\",\"microfinance\"],\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/2020-was-a-slower-year-for-microfinance\/\",\"name\":\"2020 was a slower year for microfinance - 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The Financial Regulatory Authority\u2019s monthly report (pdf) on the NBFS sector shows that Drive increased its market share to almost 22% in February\u2026","rel":"","context":"In &quot;NBFS&quot;","block_context":{"text":"NBFS","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/nbfs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/159.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564300,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/23\/ekh-to-establish-microfinance-firm-bedayti-by-4q2021-eyes-consumer-finance\/","url_meta":{"origin":560471,"position":1},"title":"EKH to establish microfinance firm Bedayti by 4Q2021, eyes consumer finance","author":"enterpriseam admin","date":"23 August 2021","format":false,"excerpt":"Egypt Kuwait Holding (EKH) plans to expand its footprint in financial services by establishing a microfinance firm called Bedayti during 4Q2021, source from EKH told Enterprise. The holding company has received initial approval to set up the lender from the Financial Regulatory Authority and expects to receive the final go-ahead\u2026","rel":"","context":"In &quot;SPEED ROUND: MICROFINANCE&quot;","block_context":{"text":"SPEED ROUND: MICROFINANCE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-microfinance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/501.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632601,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/14\/ni-capitals-tamweely-receives-temporary-microfinance-license\/","url_meta":{"origin":560471,"position":2},"title":"NI Capital\u2019s Tamweely receives temporary microfinance license","author":"enterpriseam admin","date":"14 February 2018","format":false,"excerpt":"The Financial Regulatory Authority (FRA) awarded Tamweely a temporary microfinance license, with the company looking to launch operations \u201cin the next few days,\u201d said Chairman Amr Abul Azm. The company expects to receive the final license before the end of 1Q2018, Abul Azm said in a statement (pdf). Tamweely was\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567973,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/what-to-expect-from-the-debt-market-in-early-21\/","url_meta":{"origin":560471,"position":3},"title":"What to expect from the debt market in early \u201821","author":"enterpriseam admin","date":"14 December 2020","format":false,"excerpt":"Five companies are planning seven securitized bond issuances worth a combined EGP 9.3 bn in the near future, Financial Regulatory Authority (FRA) boss Mohamed Omran said in a statement (pdf). The issuances have already been greenlit by the FRA\u2019s board of directors, but it\u2019s still unclear when exactly they\u2019ll hit\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/237.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573649,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/12\/earnings-watch-at-lease-domty-misr-cement-qena-obour-land\/","url_meta":{"origin":560471,"position":4},"title":"Earnings Watch- AT Lease, Domty, Misr Cement Qena, Obour Land","author":"enterpriseam admin","date":"12 August 2020","format":false,"excerpt":"EARNINGS WATCH- AT Lease reported EGP 35.7 mn in net profits during 1H2020, up 4.6% from EGP 34.14 mn in 1H2019, according to an EGX disclosure (pdf). 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