Tadbiir Group to launch NBFS to support SMEs in Egypt
Updated 2/15/2023 3:35:00 PM
Arab Finance: Tadbiir for Leasing and Factoring Company will officially launch its non-banking financial services (NBFS) to back small- and medium-sized enterprises (SMEs) in Egypt, according to an emailed press release on February 15th.
“Our customer-centric strategy is mainly designed with a concrete vision and clear objectives to serve and support SMEs, which constitute the largest share of companies in the Industrial, commercial and service sectors in Egypt in terms of employment and productivity,” Ahmed Kamal Selim, Founder, CEO, and Board Member at Tadbiir for Leasing and Factoring, said.
“From this standpoint, we were driven on supporting the SMEs sector once we secured the Financial Regulatory Authority (FRA)’s approval to offer leasing and factoring services under Tadbiir with a paid-up capital of EGP 100 million,” Selim noted.
For his part, Amir Kirollos, Founder and Board Member of Tadbiir, said: “At Tadbiir, we place great emphasis on supporting SMEs companies operating in various sectors such as technology, contracting, agriculture, telecommunications, tourism and retail by providing essential financing solutions to support their working capital requirements through Factoring services or fixed assets purchases through leasing Services.”
Tadbiir's strategy pays great attention to bolstering the SMEs sector which 47% of its companies still do not have banking services, Kirollos pointed out.
It is noteworthy that Tadbiir launched its operations in the fourth quarter (Q4) of 2022 and closed the issuance of EGP 110 million in loans since then.
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