Egyptian microfinance company Rifi is anticipating 150 million EGP in funding from the Industrial Development Agency for Medium, Small and Micro Enterprises. This collaboration marks the third between Rifi and the agency. According to Ahmed Labib, Rifi's Managing Director and CEO, an official announcement is expected within two to three weeks.
Rifi has previously received funding from the Industrial Development Agency as part of its efforts to support microfinance activities and clients across various governorates. Labib stated that Rifi is also in negotiations with two local banks to secure funding ranging from 500 to 600 million EGP. This additional liquidity aims to support the company's plans for the upcoming period.
In addition to the local bank negotiations, Rifi is discussing a potential 10-20 million USD loan with the "Badr" fund, managed by the Arab Fund for Economic and Social Development. Labib mentioned that Rifi currently operates 224 branches across 22 governorates and has received approval to open 10 more branches. These new branches are expected to open before the end of the year, bringing the total number of branches to approximately 235.
As of now, Rifi serves around 121,000 clients, with ambitions to gradually return to its pre-160,000 client base from before a securitization process nearly three years ago. The company's current loan portfolio stands at approximately 4 billion EGP. In 2025, Rifi disbursed 2 billion EGP in loans, compared to 3.4 billion EGP in 2024.
Rifi expects to surpass the loan disbursements of the previous two years in 2026. According to Labib, the company has no plans for securitization or bond issuance this year, as per the board of directors' and shareholders' decision. This decision prioritizes maintaining a stable client base and current portfolio.
Labib revealed that Rifi submitted a study to the Egyptian Financial Supervisory Authority to obtain preliminary approval for a new activity. The study spans three years, after which specific portfolio targets will be determined. Rifi has already begun testing a B2B model in five to six branches, focusing on light vehicle financing.
The company is evaluating the results of this B2B trial, which includes partnerships with over 20-25 dealers. Rifi offers incentives to loyal and regular clients, including customized pricing, tailored repayment plans, and potential discounts or partial exemptions based on the client's situation.
Key points
- Rifi expects to secure 150 million EGP in funding from the Industrial Development Agency for Medium, Small and Micro Enterprises.
- The company is in negotiations with local banks for 500-600 million EGP in funding and a 10-20 million USD loan from the "Badr" fund.
- Rifi aims to expand its branch network to 235 locations and increase its client base beyond the current 121,000 clients.
