Cairo –  Tadbiir for Leasing and Factoring Company announced the launch of its non-banking financial services to endorse support small and medium sized enterprises (SMEs) in the Egyptian market.

With a paid-up capital of EGP 100 million, the initial phase includes the launch of both leasing and factoring services to boost the financial environment in Egypt, for its customers in particular and the society in general.

The new investment aligns with the Egyptian government's strategic vision towards financial inclusion, according to a press release.

Founder and CEO of Tadbiir, Ahmed Selim, said: “Our customer-centric strategy is mainly designed with a concrete vision and clear objectives to serve and support small and medium-sized companies, which constitute the largest share of companies in the industrial, commercial, and service sectors in Egypt in terms of employment and productivity.”

Selim noted that the Financial Regulatory Authority (FRA) granted its approval for Tadbiir to offer leasing and factoring services. Meanwhile, the entity launched operations in the fourth quarter (Q4) of 2022 and successfully issued EGP 110 million in loans since then.

Tadbiir's strategy targets the SMEs sector, of which 47% of firms still do not have banking services, according to Founder and board member, Amir Kirollos.

The firm established its first office in Cairo last quarter, while more offices are expected to launch by the end of 2023. It further has plans to expand in the Delta and Upper Egypt by the end of 2024.

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