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Qardy and Sandah team to expand financing for MSMEs in Egypt

By Delisha Fernandes

September 14, 2023

  • financial gap
  • Financial Institutions
  • Financial Services
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Qardy, Sandah, MSMEs, financial gap, online lending, microfinance institution, financial services, FinTech news, FinTech EgyptQardy, an online lending marketplace for financial institutions to fund MSMEs and Sandah, a microfinance institution, have announced their strategic partnership to empower and support Egypt’s Micro, Small and Medium Enterprises (MSMEs).

Abdel Nabi, Founder of Qardy, said “We are thrilled about this strategic collaboration with Sandah; together we aim to expand our coverage to cover the full extent of MSMEs sector, providing them with tailored financial products to both manage their cash flow cycles and cover their working capital needs.”

This collaboration aims to provide MSMEs with the necessary tools and resources to succeed in today’s competitive business landscape. This partnership, aims to bridge the financial gap within the MSMEs sector in Egypt through a comprehensive suite of products and services designed specifically to address the different needs of the industry.

Suhail Rashwan, the Managing Director of Sandah Microfinance, said “We are eager to work with partners to help business owners get appropriate and innovative financing. This aligns with the Egyptian government’s plans to make sure that all parts of society have access to financial services, Offer different financing models for all aspects of Egypt’s economy, promote the culture of using microfinance, and encourage young people to adopt it. Because of this, the company has been in most of the Egyptian governorates and uses electronic channels and financial technology to reach as many customers as possible.”

Rashwan added, “Sanadah, in cooperation with Qardy, wants to offer a unique experience that offers comprehensive solutions to meet the needs of business owners and reach a larger group of customers in different regions in all governorates.”

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