ArabFinance: Aspire Capital Holding for Financial Investments (ASPI) has completed the establishment of Kheir for Microfinance, according to a statement filed to the Egyptian Exchange (EGX).

The new company has an issued capital of EGP 120 million, of which EGP 30 million are paid, Aspire Capital noted.

Asprire Capital is currently working on getting the necessary licences from the Financial Regulatory Authority (FRA) to begin practicing microfinance activities.

This comes as part of Aspire Capital’s expansion plan in the non-banking financial activities.