Tamweely Financial Services has successfully completed the second issuance under its large-scale EGP 5 billion securitization program. The latest tranche is valued at EGP 1.155 billion and is backed by a portfolio of future financial rights totaling EGP 1.374 billion from microfinance project contracts. This issuance underscores Tamweely’s commitment to leveraging capital markets to support the growth of micro and small enterprises in Egypt.
Structured Across Four Tranches
The second issuance is divided into four primary tranches:
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Tranche 1: EGP 340 million, maturity of 6 months
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Tranche 2: EGP 460 million, maturity of 12 months
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Tranche 3: EGP 285 million, maturity of 18 months
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Tranche 4: EGP 70 million, maturity of 24 months
This tiered structure allows for diversified investment options and aligns with investor preferences for varying risk and liquidity profiles.
Institutional Participation and Advisory Roles
The subscription and placement were managed by Ahli United Bank – Pharos as lead underwriter, achieving full coverage due to strong institutional demand. Matouk Bassiouny & Hanaoui Law Firm acted as legal advisors, ensuring regulatory and legal compliance.
Additional support came from:
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Coverage guarantors: Ahli United Bank – Pharos, Bank of Alexandria, Bank of Cairo, National Bank of Egypt
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Subscription receiving bank: Bank of Cairo
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Custodian: Bank of Alexandria
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Auditor: Baker Tilly
The tranche received an independent credit rating from MERIS Middle East, with the first two tranches rated P1 and the remaining two rated A-, reflecting the strong credit profile and underlying asset quality.
Leadership Perspective
Ahmed Khorshid, CEO, Managing Director, and Vice Chairman of Tamweely, emphasized that the company obtained approval for the EGP 5 billion securitization program from the Financial Regulatory Authority last year. He highlighted that the successful issuance reinforces Tamweely’s strategy to strengthen funding sources for microfinance and small enterprise lending.
Khorshid also announced plans for 2026, including geographic expansion, launching a new suite of innovative financing products, and applying for a license to offer Islamic financial products, aiming to broaden the company’s market reach and diversify offerings.
About Tamweely Financial Services
Founded in 2017, Tamweely Financial Services is a non-banking financial institution with a paid-up capital of EGP 225 million. The company holds several licenses and regulatory approvals, including:
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License No. 6 for microfinance operations
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License for micro leasing operations
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Registration under the Financial Leasing Registry (No. 305/2023)
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License No. 5 for financing small and medium enterprises
Tamweely continues to play a pivotal role in Egypt’s microfinance and SME sector by providing flexible, scalable financing solutions to support economic growth and entrepreneurship.
Implications for Egypt’s Microfinance Sector
This successful securitization highlights the growing maturity of Egypt’s non-banking financial sector, particularly in leveraging capital markets to enhance liquidity and operational capacity. The issuance provides Tamweely with the financial flexibility to scale its operations, support more micro-projects, and introduce innovative products that respond to market needs, including Sharia-compliant financing solutions.
By combining strong institutional participation, high-quality credit ratings, and strategic planning, Tamweely sets a benchmark for securitization in the microfinance sector and underscores the sector’s potential to drive inclusive economic growth.
