Latest news with #AhmedEl-Shanawany
Economic Key
22-07-2025
- Automotive
- Economic Key
Suhoolah Unveils 'START' Auto Finance Program Offering up to EGP 7 Million, 7-Year Repayment Plans
As part of its ongoing efforts to promote financial inclusion and offer smart, flexible financing solutions, souhoola one of Egypt's leading consumer finance companies has announced the launch of its latest auto financing program, 'START', which is now considered one of the most powerful financing offerings in the market in terms of value, speed, and ease of process. 'START' program is aligned with souhoola's strategy to expand its service offering and deliver accessible and flexible financing solutions. It allows customers to own the car of their dreams with financing of up to 80% of the vehicle's value, with a credit decision issued within just one hour using only their national ID, making it one of the fastest financing systems currently available. Repayment terms extend up to 84 months (7 years), with financing amounts reaching EGP 7 million, positioning START as one of the highest-value programs in the market. To deliver a seamless and integrated customer experience, souhoola has partnered with a select group of trusted and certified car dealerships across Egypt, giving customers access to a wide range of high-quality options while simplifying and accelerating the purchase and financing process. The program targets a wide customer base, including salaried employees and self-employed individuals both new and existing clients. Eligibility criteria include an age range of 21 to 60 years for salaried employees, and up to 65 years for self-employed individuals at the time of loan maturity. START covers all types of new and used cars, with a minimum down payment of 20%, giving customers real flexibility in choosing a vehicle that fits their needs and budget. Commenting on the launch, Ahmed El-Shanawany, Managing Director of souhoola, commented: 'The launch of START is part of our strategic vision to provide innovative financial solutions that respond to the fast-changing dynamics of the Egyptian market while supporting national efforts to enhance financial inclusion. This program is designed to be more than just a financing product, it's an empowerment tool that delivers a flexible, instant, and secure experience, reflecting our continued commitment to innovation.' He added: 'At souhoola, we believe the future of financing lies in simplifying the experience and building trust and transparency. With START, we are redefining the auto financing journey in a way that resonates with the ambitions of the new generation of consumers, while reinforcing our position as a key player in the evolution of Egypt's consumer finance sector.' Mohamed Gamal, Chief Business Officer at souhoola, added: 'START is not just a financing solution, it's a real enabler that gives individuals the freedom to choose the car that matches their lifestyle, without extra burdens or complex processes. The program was developed based on in-depth market research to provide our clients with fast, flexible, and transparent financing that boosts their purchasing power and improves their quality of life. What sets START apart is its fully integrated value, from rapid approval and simple application to high financing limits and long repayment periods. At souhoola, we place customer needs at the heart of everything we do and START is a direct reflection of our deep understanding of their everyday challenges.' It is worth noting that souhoola was established in 2019 as a consumer finance company dedicated to offering technology-driven financial solutions that promote financial inclusion and improve the quality of life for Egyptians. Leveraging its financial and commercial expertise, souhoola develops innovative solutions that help individuals overcome growing economic challenges and enjoy a seamless and distinguished shopping experience. تم نسخ الرابط
Zawya
25-02-2025
- Business
- Zawya
Huawei Cloud signs an MOU with BM Consumer Finance to accelerate digital transformation in fintech in Egypt
This collaboration reinforces Huawei Cloud services being a driving force in Egypt's digital transformation journey Cairo, Egypt – Huawei Cloud announced the signing of a Memorandum of Understanding (MOU) with BM Consumer Finance (Souhoola), with the aim of supporting digital payment services through the latest Huawei Cloud services. As part of this strategic partnership, BM Consumer Finance (Souhoola) began leveraging Huawei Cloud services in collaboration with its certified business partner, DO for Information Technology (DOIT). This agreement marks a significant milestone in BM Consumer Finance (Souhoola)'s digital transformation journey, as Huawei Cloud enhances the company's technological capabilities and optimizes its overall performance, while also representing an important step in providing cloud services to companies across the fintech sector, ensuring full compliance with Egyptian laws and regulations. The MOU was signed by Mr. XU Fuqiu JO, CEO of Huawei Cloud Egypt, and Ahmed El-Shanawany, Managing Director of BM Consumer Finance (Souhoola). By employing Huawei Cloud's advanced technologies and leading cloud solutions, Souhoola will be able to enhance the customer experience, streamline operations, and boost financial inclusion across Egypt. Through the development of an integrated digital platform, customers will be able to manage their financial affairs easily and safely. With a shared vision for digital innovation, both companies are poised to lead the rapid transformation of the fintech landscape in Egypt. Mr. XU Fuqiu JO, CEO of Huawei Cloud Egypt, commented, 'Since launching Huawei Cloud services in Egypt, we've been dedicated to empowering businesses in their digital transformation journeys. In today's cloud-driven world, we leverage our advanced cloud solutions to help enterprises achieve significant operational efficiencies. This partnership with Souhoola aims to enhance payment solutions and accelerate digital transformation within the fintech sector. We are committed to being the trusted partner for businesses navigating this dynamic landscape'. Ahmed El-Shanawany, Managing Director of BM Consumer Finance (Souhoola), said, 'We are proud to partner with Huawei Cloud, as this agreement marks a pivotal moment in Souhoola's journey to innovate and expand our financial services across Egypt. By utilizing Huawei's secure and scalable cloud technologies, we are enhancing our ability to provide accessible, efficient financing options to individuals and small businesses. This collaboration will accelerate our digital transformation while playing a vital role in advancing financial inclusion, ensuring that all Egyptians can access the services they need to improve their lives.' Sameh Kandil, CEO of DO for Information Technology (DO IT), said that this partnership represents an important milestone in the fintech sector, marking the company's inaugural venture in this field and laying the foundation for even greater successes. It's also the start of a promising journey in collaboration with BM Consumer Finance (Souhoola) and other industry leaders, driving innovation and growth across the sector. This is all thanks to the effort made by the entire team, particularly the technical team, which made strides in meeting Souhoola's business needs over the course of five months, during which the project's objectives were successfully achieved. The Huawei team also played a huge role in accomplishing this significant achievement, both technically and in meeting the top management's goals with efficiency and professionalism. With this groundbreaking initiative, Huawei Cloud and BM Consumer Finance (Souhoola) are reinforcing their strong commitment to digital innovation and enhancing technological infrastructure in Egypt, paving the way for the prosperity of the fintech sector and opening new horizons for future growth. It is noteworthy that Huawei launched its Cloud Region in Egypt in 2024, becoming the first company to establish a public cloud in the region. The Cairo Region is designed to provide Huawei Cloud's innovative and intelligent capabilities, serving as a strategic hub for countries across Northern Africa.
