Back to the complete issue
Thursday, 28 July 2022

Tamweely is getting into green financing

Microfinance player Tamweely is rolling out green financing products geared towards eco-friendly projects in the agriculture sector, the company said yesterday (pdf). The products will focus on providing finance to farmers and owners of small factories to help them install solar panels as an alternative to diesel and other fossil fuels, said Saad Khaled, CEO of consultancy Ezdaher, which helped Tamweely introduce the green financing products.

More and more entities are getting in on green financing in Egypt: The European Bank for Reconstruction and Development (EBRD) recently signed off on a USD 100 mn facility to state-owned Banque Misr to finance local SMEs working on green projects last year. The institution has been committing more financing to green projects in Egypt and elsewhere in the developing world under its recently-announced Green Cities Compact scheme.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.