The partnership aims to bridge the financial gap in the MSME sector in Egypt by offering a range of products and services tailored to their various needs.
Qardy is an online lending marketplace that connects MSMEs with lenders, while Sandah is a for-profit microfinance company that provides loans to small businesses.
The partnership between Qardy and Sandah is expected to benefit a large number of MSMEs in Egypt.
MSMEs account for over 90% of the country’s private sector employment and contribute significantly to the economy.
However, many MSMEs struggle to access financing from traditional banks and other financial institutions.
The Qardy-Sandah partnership is expected to make it easier and faster for MSMEs to get the loans they need to grow their businesses.
Benefits of the partnership for MSMEs:
The partnership between Qardy and Sandah is expected to offer a number of benefits to MSMEs in Egypt, including:
– Increased access to financing: The partnership will make it easier and faster for MSMEs to get the loans they need to grow their businesses.
– A wider range of financial products and services: The partnership will offer MSMEs a wider range of financial products and services tailored to their specific needs.
– More competitive interest rates: The partnership is expected to lead to more competitive interest rates on loans for MSMEs.
– Improved customer service: The partnership will provide MSMEs with access to a wider network of branches and customer service representatives.
Proparco has announced a $5 million investment in the Equator Africa Fund through its FISEA+ facility to accelerate climate-focused innovation in sub-Saharan Africa.
Koa, a Swiss-Ghanaian cocoa upcycling startup, has secured a landmark US$15 million investment in its Series B funding round to transform the cocoa industry with its innovative approach to sustainability and farmer empowerment.
South African travel technology company TurnStay has secured a $300,000 funding round from DFS Lab and Digital Currency Group (DCG), both headquartered in the United States.
© 2021 Empower Africa. All rights reserved.