Investing in Employment in the Middle East and North Africa Region

SANAD Entrepreneurship Academy

Events

2018-05-08

SANAD equity investment, Sandah for Microfinance, launches in Cairo

Egypt’s newest microfinance lending institution, Sandah for Microfinance (Sandah), celebrated its launch with an opening ceremony held in Cairo on 8 May 2018. With the Arab African International Bank (AAIB) and the SANAD Fund for MSME (SANAD) as its founding shareholders, Sandah is the first company to be established with the support and backing of international investors since the Egyptian Financial Regulatory Authority (EFRA) introduced the new framework governing microfinance. Now, having recently secured a final license from EFRA to engage in microfinance, the company is poised to become a premier provider of financial services to the micro and very small enterprise (MVSE) segment, and is well positioned to meet underserved demand for MVSE financing in the governorates of Upper Egypt and the Delta Region in particular.


   
 

Over 400 distinguished guests attended the ceremony, including dignitaries from the Egyptian and German governments and the European Union as well as high-level representatives from the national and international banking sphere. Speeches by Hassan Abdalla (CEO of AAIB), Klaus Maurer (Vice-Chairman of Sandah), KfW, the E.U. and Sandah’s CEO, Bassel Rahmy, accompanied a well-rounded and well-received evening program.

 
Initiated
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Advised by
 
  • http://www.kfw-entwicklungsbank.de/
  • http://www.finance-in-motion.de/
 
 
Funded by
 
  • http://www.bmz.de/
  • http://ec.europa.eu/
  • http://www.kfw-entwicklungsbank.de/