The First Microfinance Foundation Egypt (FMF-E) was incorporated by the Aga-Khan Association for Microfinance (AKAM) in 2005. A Non-Governmental Organization (NGO) later transformed into First Microfinance Company (FMFC) in late 2018. The entity focused on the bottom-of-the-pyramid rural clients mainly in upper Egypt, particularly youth and women, offering financing products under income-generating for segments of micro-finance enterprises development.
LOLC Group acquired FMFC in March 2022 and the entity is now known as ‘LOLC El-Oula Microfinance Egypt’ (LOLC EMFE). LOLC EMFE plans to widen its reach and leverage its global expertise in micro-financing and technological advances to increase its outreach; while offering both Micro-Loans and Micro-small and medium enterprise loans (MSME) with synergized conveniences and offer services beyond its current 18 branches network to expand to all regions in Egypt.