In a landmark move set to reshape the SME lending landscape across Egypt, Egypt Post and Qardy announced a strategic partnership. This collaboration will enable Qardy to leverage the extensive Egypt Post network of over 4 300 offices, thereby transforming how SMEs access finance across the nation.
The partnership agreement was signed by Khaled Emam, Egypt Post vice chairperson for financial inclusion, and Abdel Aziz Abdel Nabi, Qardy’s founder, under the watchful eye of Egypt Post chairman Dr Sherif Farouk. The high-profile signing event saw the attendance of numerous executive leaders.
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Farouk highlighted the significance of the collaboration, describing it as a turning point for financial inclusion.
“This partnership is more than a business agreement; it is a strong testament to Egypt’s commitment to achieving financial inclusion. Through the combination of Qardy’s innovative lending solutions and Egypt Post’s robust infrastructure, we will reshape the financing landscape for SMEs, stimulate economic growth, and encourage a culture of entrepreneurship across the nation,” he said.
Abdel Nabi echoed the sentiment, stating, “This partnership marks a major milestone for Qardy. By aligning with Egypt Post, the largest non-banking financial institution in Egypt, we can ensure that our cutting-edge lending solutions reach the farthest corners of the country, thereby democratizing access to finance for SMEs.”
SMEs contribute to 80% of Egypt’s GDP and employ 75% of the nation’s workforce. By facilitating their access to essential finance, this partnership could stimulate significant economic growth and job creation.
Founded in 2022, Qardy is the pioneering online lending marketplace in Egypt and the MENA region. The company provides free, fully digital access to financing solutions in partnership with top financial institutions in Egypt, aiming to close the debt financing gap for SMEs.
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