The volume of microfinance activities in Egypt increased by 40.01% to EGP 25.01bn in October 2021, compared to the EGP 17.86bn recorded a year earlier, according to a report by the Financial Regulatory Authority on non-banking financial activities on Monday. The report showed that the number of beneficiaries of microfinance reached 3.41 million people in October 2021, compared to 3.14 million beneficiaries in October 2020. Microfinance companies accounted for the largest market share in October 2021, at 56.98%, followed by associations and civil institutions of category (A) 37.07%, then civil associations and institutions of category (C) 3.14%, and associations and institutions of category (B) 2.81%. Commercial activity accounted for 61% of the total microfinance volume in October 2021, followed by agricultural activity 18.86%, services 13.39%, and productive activity 6.74%. The FRA also revealed that factoring activity achieved an 85% growth in the total volume of securities during the first 10 months (10M) in 2021 to EGP 15.363bn, compared to the EGP 8.302bn recorded in 10M 2020. The total value of stock and bond issuances in 10M 2021 increased by 56.6%, to reach EGP 147.690bn, compared to EGP 94.299bn in the comparative period in 2020.
