{"id":322654,"date":"2021-07-12T11:33:26","date_gmt":"2021-07-12T11:33:26","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=322654"},"modified":"2021-07-12T11:33:26","modified_gmt":"2021-07-12T11:33:26","slug":"egypts-fra-grants-first-sme-funding-licence-in-non-banking-sector","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/07\/12\/egypts-fra-grants-first-sme-funding-licence-in-non-banking-sector\/","title":{"rendered":"Egypt&#8217;s FRA grants first SME funding licence in non-banking sector"},"content":{"rendered":"<p>The Egyptian Financial Regulatory Authority (FRA) has licensed a micro-funding company to provide\u00a0funding to small- and medium-sized enterprises (SMEs), the first licence given to a\u00a0non-banking financial company\u00a0(NBFC),\u00a0according to a statement on Monday.<\/p>\n<div id=\"Outstream\"><\/div>\n<p>As per the amendment made to law no. 201 of 2020 in October 2020, micro-funding companies, institutions, and associations have become allowed to provide SME funding solutions.<\/p>\n<p>According to the latest data in early 2021,\u00a0SMEs have contributed about 80% to the country&#8217;s gross domestic product (GDP), the FRA&#8217;s Chairman, Mohamed Omran, revealed.<\/p>\n<p>At the end of May, the micro-funding portfolio reached EGP 21.7 billion provided to 3.3 million beneficiaries. Women made up about 62% of the portfolio and the youth accounted for 63% of the micro-funding services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Egyptian Financial Regulatory Authority (FRA) has licensed a micro-funding company to provide\u00a0funding to small- and medium-sized enterprises (SMEs), the first licence given to a\u00a0non-banking financial company\u00a0(NBFC),\u00a0according to a statement on Monday.\u00a0<\/p>\n","protected":false},"author":4,"featured_media":322002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,23],"tags":[90],"class_list":["post-322654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-money-markets","tag-financial-regulatory-authority"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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