Microfinance firm Reefy has received final approval from Egypt's Financial Regulatory Authority for its third securitisation bond issuance under the second programme, valued at EGP 1.064 billion in favour of the Egyptian Securitisation Company. This move supports the company's strategy to use innovative financing tools for better liquidity management and growth amid economic challenges.
The issuance is divided into three tranches: a first worth EGP 451 million maturing in six months; a second of EGP 413 million over 12 months; and a third of EGP 200 million with a 19-month term. The bonds earned strong ratings from Meris Credit Rating Company, with the first and second tranches receiving the top Prime 1 rating, and the third an A- grade.
These ratings align with those from the prior issuance, highlighting the stability of Reefy's financing portfolio and the issuance's solid credit structure. Ahmed Labib, Reefy's managing director and CEO, commented: “This issuance marks another important step in Reefy’s journey towards building a sustainable financing model based on diversified funding sources and the optimal use of capital. Our continued success in executing consecutive securitisation transactions reflects the strength of our business model, the quality of our portfolio, and the growing confidence of the market and investment institutions in our ability to manage growth efficiently and responsibly.”
He added: “The proceeds from this issuance will support our expansion plans and enable us to reach a wider customer base, while continuing to offer competitive financing solutions tailored to the needs of microenterprise owners. This further strengthens Reefy’s role in advancing financial inclusion and promoting sustainable economic development.”
Founded in 2007, Reefy was the first company in Egypt to receive a microfinance licence from the FRA. It now serves about 145,000 clients via 220 branches across 22 governorates. The firm has been listed among Africa's 100 fastest-growing companies by Statista and the Financial Times for 2023, 2024, and 2025, underscoring its robust performance in a competitive market.