Aman to launch securitisation affiliate with first issuance reaching EGP 500m within 3 months

Aman Group, one of the leading FinTech companies in the Egyptian market focusing on non-banking services, has announced the establishment of Aman Securitization company.

The Group also expanded in two new financing sectors, namely nano-finance, with a maximum of EGP 3,000 to support marginalized groups, and Islamic finance, which is very popular in Egypt.

Hazem Moghazy, CEO and Managing Director of Aman Financial Services, said: “The Group is committed to providing a comprehensive platform for financial services to customers of all categories. We are also keen on the permanent development of these services and investing in them to support the non-banking financial sector and achieve financial inclusion. The next stage is to raise awareness about the Aman Group and its integrated services through extensive marketing and awareness campaigns. This is why we have recently invested EGP 240m to increase the group’s capital to EGP 615m, in order to enhance its spread in the local market so that Aman services can reach a larger number of customers and beneficiaries”.

Moghazy added: “Aman Financial Services is constantly diversifying its services to be the first choice for all categories of customers, especially those not included in the banking sector.”

Mohamed Wahby, CEO of Aman for Electronic Payments, said: “Aman for Electronic Payments is the backbone of Aman Group. The company is widespread nationwide, with more than 150,000 points of sale that provide 2,000 electronic payment services. Moreover, the volume of daily operations in Aman is more than 2 million transactions per day.”

Ahmed El-Khatib, CEO and Managing Director of Aman Microfinance, said: “Aman Microfinance is committed to supporting small and medium enterprises for success and continuity in light of crises and rapid changes in the business world and achieving sustainability.

The company aims to inject microfinance with a value of EGP 3.2bn during the current year, in addition to EGP 500m for small and medium enterprises. We have also financed more than 70,000 clients with a value of EGP 1.5bn over the past years.

The existing portfolio has reached EGP 1.6bn, benefiting more than 135,000 customers. In addition, we launched the Aman Investment Fund with a daily return for individuals and investing companies in line with the group’s strategy, which generally seeks to expand financial inclusion and financial technology operations in the non-banking sector.”