Our Performance

Tanmeyah concluded the fiscal year on a reversal of trend towards a positive note, achieving its highest quarterly sales in FY23 and recording the highest sales since inception in the month of December. This notable improvement can be attributed to the concerted efforts invested in enhancing loan officers' and sales efficiency. This strategic initiative included the mass recruitment of well-qualified sales personnel and a concurrent focus on optimizing the performance of existing loan officers. This dual approach not only expanded the workforce but also substantially improved the overall efficiency of sales.
Tanmeyah's portfolio grew a healthy 10% Q-o-Q, representing an absolute increase of EGP421 million, which came as a direct result of the boost in sales during 4Q23.

Tanmeyah’s digital transformation plan is on track with close to 100% digital cash collection and on track for full digital disbursement before the end of 1Q24. Live proofing of the Tanmeyah mobile application is underway and is expected to go live in 2024.Active Borrowers witnessed a slight decrease of 1% Q-o-Q in 4Q23, mainly of the back of the write-offs made on a quarterly basis since December 2022, which is now being offset by the increase in sales.

Tanmeyah’s average ticket size increased by 50% Y-o-Y and 14% Q-o-Q in 4Q23; the increase is driven by Tanmeyah's restructuring of its MEL product buckets, which was implemented in 3Q22, and in part due to the inflation seen in the economy. This restructuring entailed increasing the minimum limit for MEL from EGP7,000 to EGP10,000. Moreover, in July 2023, the MEL limit was further increased to EGP75,000, up from the previous limit of EGP50,000. MEL product represents a significant portion of Tanmeyah's sales, accounting for 89% of the total sales. However, VSE products are gaining momentum after surging 115% Q-o-Q in 4Q23, as a result of hiring new loan officers exclusively for the product and a reinvigorated focus around promoting the VSE segment.