Latest news with #MNTHalan
Zawya
27-06-2025
- Business
- Zawya
MNT-Halan's Tasaheel concludes Egypt's first SME-focused issuance at $94mln
Cairo - Tasaheel, part of MNT-Halan, has completed Egypt's first securitization issuance, with a total value of EGP 4.70 billion across six tranches. The issuance was rated 'P1' for short-term tranches and 'A-' for long-term tranches by Middle East Rating and Investors Service (MERIS), according to a press release. Backed exclusively by a portfolio of SMEs, the transaction aligns with the company's objectives to support the economic sector and marks the largest securitization issuance in Egypt in 2025. This offering anchors Tasaheel's strategy to secure financial solutions that promote financial inclusion and drive economic growth by supporting entrepreneurs and SMEs. This is in addition to scaling access to financial services across Egypt. Ahli Pharos and the Arab African International Bank (AAIB) acted as financial advisors and lead arrangers for the transaction. Matouk Bassiouny & Hennawy served as legal advisor, while Baker Tilly was the financial auditor. The issuance was underwritten by the National Bank of Egypt (NBE), Commercial International Bank-Egypt (CIB), Suez Canal Bank, AAIB, and Ahli Pharos. The Egyptian Gulf Bank (EG Bank) acted as the custodian bank. Mounir Nakhla, Founder and CEO of MNT-Halan, commented: 'This issuance marks an important milestone in Tasaheel's journey and reflects the strength of its credit portfolio and the trust placed in its performance by financial institutions.' 'Expanding access to finance for SMEs is a cornerstone for supporting Egypt's economic development, and we are proud to lead this effort through Tasaheel,' Nakhla added. Tasaheel disburses more than EGP 1 billion monthly to back entrepreneurs and small businesses, holding over 70% market share within the non-banking financial sector in Egypt. Last March, the Financial Regulatory Authority (FRA) greenlighted MNT-Halan's request to implement electronic Know Your Customer (e-KYC) and digital contracts in Egypt.
Zawya
25-06-2025
- Business
- Zawya
MNT-Halan's Tasaheel closes Egypt's first SME-focused issuance worth EGP4.7bln
Cairo – Tasaheel, Egypt's largest and fastest-growing lender for small businesses and entrepreneurs, and part of MNT-Halan, has successfully completed Egypt's first securitization issuance backed exclusively by a portfolio of SMEs, with a total value of EGP 4.7 billion across six tranches. This transaction underscores the company's leadership in supporting this vital economic sector and marks the largest securitization issuance in Egypt in 2025. The issuance was rated 'P1' for short-term tranches and 'A-' for long-term tranches by MERIS (Middle East Rating & Investors Service), reflecting the strength and quality of the underlying portfolio. This transaction aligns with Tasaheel's strategy to provide financial solutions that promote financial inclusion and drive economic growth by supporting entrepreneurs and SMEs, while expanding access to financial services across Egypt. Ahli Pharos and the Arab African International Bank acted as financial advisors and lead arrangers for the transaction. Matouk Bassiouny ; Hennawy served as legal advisor, while Baker Tilly acted as the financial auditor. The issuance was underwritten by the National Bank of Egypt (NBE), Commercial International Bank (CIB), Suez Canal Bank, Arab African International Bank, and Ahli Pharos. The Egyptian Gulf Bank acted as the custodian bank. Mounir Nakhla, Founder and CEO of MNT-Halan, commented: This issuance marks an important milestone in Tasaheel's journey and reflects the strength of its credit portfolio and the trust placed in its performance by financial institutions. Expanding access to finance for SMEs is a cornerstone for supporting Egypt's economic development, and we are proud to lead this effort through Tasaheel. It is worth noting that Tasaheel disburses over EGP 1 billion monthly to support entrepreneurs and small businesses and holds more than 70% market share within the non-banking financial sector in Egypt, solidifying its leadership in this field.
Zawya
06-05-2025
- Business
- Zawya
Tasaheel concludes Egypt's largest corporate bond issuance worth EGP2.5bln
Cairo - Tasaheel, Egypt's largest and fastest-growing lender for small businesses and entrepreneurs, and part of MNT-Halan, announced the successful conclusion of a landmark EGP 2.5 billion corporate bond issuance, the largest of its kind in the Egyptian market to date. Tasaheel's issuance, which received an investment-grade BBB+ rating from Middle East Ratings and Investor Services (MERIS), comes in two tranches: the first tranche valued at EGP 2 billion with a tenor of 12 months, and the second tranche valued at EGP 500 million with a tenor of 36 months. Mounir Nakhla, Founder and CEO of MNT-Halan, commented: "Issuing Egypt's largest corporate bond marks a major milestone for MNT-Halan. It reflects the ambition of our management team and the strength of our financial and operational performance. More importantly, it opens a strategic new funding channel that will support our next phase of growth. It has been a complex and demanding process, and we are proud to have delivered it successfully." Islam Ayyoub, Managing Director of Tasaheel, added: "This issuance supports our ability to meet growing demand for business loans and reinforces the scale and efficiency of our lending operations. It reflects confidence in our business model and our commitment to serving more small and medium-sized businesses across Egypt." CI Capital acted as the issuance manager and bookrunner, while KPMG – Hazem Hassan served as the financial auditor, and Matouk Bassiouny & Hennawy acted as the legal advisor for the transaction. About MNT-Halan MNT-Halan, Egypt and MENA's first fintech unicorn, was founded in 2018 with a mission to improve lives by revolutionizing access to financial services through technology. MNT-Halan provides business and consumer loans, prepaid cards, e-wallets, savings, and e-commerce services through the Halan app and a nationwide physical presence. Since inception, MNT-Halan has served more than 8 million customers globally by providing financial services for both individuals and businesses. MNT-Halan holds Microfinance, SME finance, Consumer Finance, and Nano Finance licenses from the Egyptian Financial Regulatory Authority (FRA), as well as the first independent Electronic Wallet license from the Central Bank of Egypt (CBE) to disburse, collect, and transfer money digitally through mobile applications. The company has received many accolades, including being named the Most Innovative Fintech Company in the Middle East and Africa by Global Finance Magazine, featured on the Financial Times' list of Africa's Fastest Growing Companies for three consecutive years, and listed in Forbes Middle East's The Middle East's Fintech 50. Its Egyptian subsidiary has also been awarded the Bronze Client Protection Certificate by MFR Global Rating Agency (under the Cerise + SPTF framework) and holds ISO/IEC 27001 certification for meeting the highest international standards in data protection, risk management, and compliance.
