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Attijariwafa Bank Egypt, the local arm of Morocco’s royal-owned Attijariwafa Bank Group, has signed a new partnership with the International Finance Corporation (IFC) aimed at expanding credit to small and medium-sized enterprises in Egypt.
The agreement creates a risk-sharing program in Egyptian pounds valued at around $10 million. Under the plan, IFC will shoulder half of the credit risk tied to a new SME loan portfolio of up to $20 million. The funding will support small businesses—particularly those led by women or employing displaced people—helping them grow, create jobs, and build resilience.
Boosting private-sector growth
Small and mid-sized businesses make up almost all of Egypt’s private companies and employ millions. Yet, many still struggle to secure financing, squeezed by high interest rates and limited access to bank loans.
“This partnership marks a key step toward widening access to finance for small businesses and encouraging inclusive growth,” said Mouawia Essekelli, CEO of Attijariwafa Bank Egypt. “Backing entrepreneurs and women-led ventures strengthens not just families but the broader economy.”
Part of the facility includes $2.5 million in blended finance provided by the Netherlands through the PROSPECTS program, which supports job creation for refugees and host communities in the Middle East and East Africa. At least a quarter of the loans will go to women-owned enterprises, while half will target firms based in underserved regions.
Focus on local-currency financing
The agreement was finalized during the Africa Financial Industry Summit, an event that brought together officials and executives to discuss how to grow local capital markets and expand lending in home currencies.
Many small business owners in Egypt still have a hard time getting credit that doesn't cost too much. The International Finance Corporation's most recent partnership is meant to fill that gap. It's part of a bigger plan to link private banks with public development programs so that more people can benefit from economic growth, not just the big players.
By taking on part of the lending risk, both sides hope to strengthen Egypt’s banking system and make it easier for local entrepreneurs to get the support they need to grow.As reforms continue, improving credit flow to small businesses is increasingly viewed as critical to building a more inclusive and sustainable economy.
Expanding across Africa
Attijariwafa Bank, which is majority-owned by Morocco’s Al Mada holding, the investment arm of the royal family, has steadily expanded across Africa in recent years. The group entered the Egyptian market in 2017 after taking over Barclays Bank’s local operations.
Since then, it has widened its retail and corporate footprint, with small-business lending emerging as one of its fastest-growing areas. The IFC collaboration fits neatly into its wider regional strategy: combining profitability with long-term social and economic impact.
