The Financial Supervisory Authority revealed that microfinance balances increased to 20.93 billion pounds during the first quarter of 2021, compared with 17.87 billion pounds during the same quarter in 2020, with a growth rate of 17.13%, and despite the growth in the value of the portfolio, the number of beneficiaries decreased to 3.19 One million beneficiaries at the end of the first quarter of 2021 compared to 3.2 million beneficiaries at the end of the first quarter of 2020, a decrease of 0.36%.
The Financial Control Report showed that the microfinance companies came first in terms of the value of financing balances, with a financing value of 11.58 billion pounds in the first quarter of 2021, while they came in second place with respect to the number of beneficiaries and amounted to 1.3 million beneficiaries compared to the end of the first quarter of 2020, which amounted to The value of financing balances is 9.26 billion pounds for a number of beneficiaries amounting to about 1.19 million beneficiaries, and the market share of the financing balances of microfinance companies occupied the first place with a rate of 55.35%, while it ranked second in terms of the number of beneficiaries, by 40.77%.
The Financial Supervision Authority clarified that the associations and civil institutions of category (A) came in second place at the end of the first quarter of 2021 in terms of the value of financing balances, with a value of 7.99 billion pounds, while it came first with regard to the number of beneficiaries, amounting to 1.65 million beneficiaries, compared to the end of the first quarter. For the year 2020, in which the value of funding balances amounted to 7.2 billion pounds, for a number of beneficiaries amounting to about 1.7 million beneficiaries, and the market share of funding for associations and civil institutions of category (A) ranked second with 38.2%, while it ranked first in terms of the number of beneficiaries by 51.38%.
Class B associations and civil institutions came fourth at the end of the first quarter of 2021 in terms of the value of financing balances and the number of beneficiaries, with a financing value of 630 million pounds for a number of beneficiaries that amounted to about 89 thousand beneficiaries compared to the end of the first quarter of 2020, in which the value of the balances reached Financing about 643 million pounds for a number of beneficiaries amounting to about 125 thousand beneficiaries, and the market share of the financing stocks of associations and civil institutions in category (B) occupied the fourth position by 3.01%, as well as the number of beneficiaries by 2.79%.
Class (C) associations and civil institutions came in third order at the end of the first quarter of 2021 in terms of the value of financing balances and the number of beneficiaries, with a financing value of about LE 720 million for the number of beneficiaries that amounted to about 147 thousand beneficiaries compared to the end of the first quarter of 2020, in which the value Funding balances about 730 million pounds for a number of beneficiaries that reached about 164 thousand beneficiaries.
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