Arab Finance: Erada Microfinance Company has signed a financing agreement worth EGP 100 million with Banque du Caire, according to an emailed press release on May 18^th.

This funding will aid Erada in providing tailored financial support to entrepreneurs and small businesses, hence, contributing to Egypt’s overall economic growth.

The signing comes in line with Erada’s strategy to enhance the services for their clients.

“This facility will enable us to extend our business financing services to micro and small enterprises throughout our 20 branches located in Egypt serving thousands of our clients, strengthening our digital transformation strategy, empowering the nation’s men and women entrepreneurs, and contributing to the country's efforts towards achieving financial inclusion,” Amr Aboelazm, co-founder, Vice Chairman, and CEO of Erada, said.

Established in 2022, Erada is an Egyptian joint venture between Etisalat Egypt and The Sovereign Fund of Egypt (TSFE), sub fund for Financial Services and Digital Transformation, along with Amr Aboelazm, who is in charge of the executive management.

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