Latest news with #Hassouna
Zawya
2 days ago
- Business
- Zawya
Interview: Egypt's EFG Holding firm Valu drives expansion, banks on Amazon for scale
Buoyed by a strong debut on Egypt's stock exchange, Valu, a fast-growing consumer finance company, is now envisaging its first cross-border expansion and the launch of new products at home, according to CEO Walid Hasssouna. 'The listing showed that people see huge potential in the company, whose market cap stands today at more than EGP 17 billion ($344.614 million),' Hassouna said. On June 23, Valu stocks began trading on the Egyptian Exchange (EGX) after EFG Holding, ValU's parent company, decided to hold a listing through in-kind dividend distribution, where 20.48% of its share capital was distributed to EFG Holding shareholders. On the first day, the company's stock surged by more than 850% from its opening price, jumping from EGP 0.78 to EGP 7.4 ($0.016 to 0.15). 'The stock has proven quite robust,' Hassouna said, almost three weeks since the initial listing. 'It has been trading at a value that surpassed the fair price included in the listing prospectus by 5% to 10%.' The unconventional listing method, which entailed no capital increase, aimed at widening the ownership base of the eight-year-old fintech company, according to Hassouna. 'It is not your typical IPO,' he said. 'The company is capital sufficient, with a book value of nearly EGP 2 billion ($40.542 million). We do not currently have the need to raise additional capital. What is really important to us is to have a balanced and diverse capital structure and to include new players.' Since its listing, Valu has secured nearly 20,000 shareholders including both institutional and retail investors, he said, while describing its one million users in Egypt as 'a core part of our journey'. 'So we thought, why not give them the opportunity to become shareholders and share in the success they helped create?' Founded in 2017, the company has facilitated more than nine million transactions, securing a 25% share of Egypt's consumer finance market. In 2024, the company accrued a net profit of EGP 423 million ($8.574 million), a 78% increase from the previous year, according to an EFG Holding official statement. The company has recently secured initial approval from the Central Bank of Jordan to launch in the kingdom. 'We view Jordan as a market that exhibits strong potential and are looking forward to launching soon and disrupting the market, similar to the impact we had in Egypt,' Hassouna said. He added that his company hopes to expand westward into North African markets after consolidating its presence in Jordan, a move that may require extra capital in the future. 'That extra capital can be raised as equity or debt, depending on the conditions of each new market,' Hassouna said. Amazon backs Valu On the first trading day, EFG Holding also executed the sale of 3.95% of Valu's shares to Amazon, honoring an option agreement signed with the global e-commerce giant three years ago. EFG Finance, a subsidiary of EFG Holding, continues to own 67% of the company. Hassouna sees Amazon's decision to acquire a direct stake in Valu as a 'a vote of confidence' attesting to the company's growth potential. 'It shows that Amazon is convinced that the company's value is bound to rise in the future.' 'Besides their expertise as the world's top player in the marketplace business, Amazon also helps transmit to us the expertise of similar consumer finance companies they work with in other parts of the world,' he added. Valu is one of 45 companies that offer consumer financial solutions in Egypt. In recent years, the Egyptian government has implemented a set of reforms to boost the non-banking financial sector. In 2024, the total value of consumer finance amounted to EGP 61.3 billion ($1.242 billion), a nearly 30% increase from the previous year, according to Egypt's Financial Regulatory Authority. At home, Valu is awaiting the necessary approvals from Egyptian regulators to launch a business-to-business subsidiary company that will provide financial solutions for small and medium-sized enterprises, he said. 'The SME market in Egypt holds vast untapped potential and significant unmet demand—opportunities we are uniquely equipped to capture and serve.' 'We have a big captive market. Most of our 8000+ merchants qualify as SMEs. As a starter, we can focus on our merchant network,' he said, adding that the service may be launched before the end of 2025. Also in the works is a full-fledged one-stop marketplace on the Valu app where consumers will be able to browse products, compare prices, and complete their purchases, he said. To widen its customer base, Valu is also set to launch a new feature whereby clients can be onboarded electronically: not exclusively through Valu app but also directly through a vendor's checkout portal. 'We are working on major partnerships [with vendors] to serve this purpose, and we are set to launch this feature in the very near future,' Hasssouna said. (Reporting by Noha El Hennawy; editing by Seban Scaria
France 24
23-07-2025
- Health
- France 24
AFP journalist covers war as Gaza faces extreme shortages
"I walk 14 to 15 kilometres (nine miles) every day to reach the news sites," he said. "This morning, I walked about a 25-kilometre round trip in search of information." More than 21 months of war between Israel and Hamas have displaced almost all of Gaza's population, triggered severe shortages of food and other essentials, and reduced much of the Palestinian territory to rubble. Hassouna, 48, said his arduous journeys, in searing heat, were "very, very difficult" and even took their toll on his shoes. "I used to change my shoes every six months," he said. "Today, I wear out a pair every month." Whether filming the chaotic scramble for meagre aid or the bloody aftermath of an air strike, Hassouna said that extreme scarcities of food, clean water and medical care in Gaza further complicated his efforts to cover the devastating conflict. Israel's military campaign in Gaza has killed 59,106 Palestinians, mostly civilians, according to the health ministry in the Hamas-run territory. More than 100 aid organisations and human rights groups warned on Wednesday that "mass starvation" was spreading across the population of over two million people, after Israel imposed a more than two-month aid blockade, only easing it a little in late May. Hassouna, who is based in Gaza City, said his main struggle was accessing enough food to feed himself and his family, including a sick sister who lives with him. After living through almost two years of conflict, his once full face appears drawn and his eyes sunken. "My weight used to be around 110 kilograms (over 17 stone), today it is between 65 and 70 kilograms (barely 11 stone)," he said. 'Prices multiplied by 100' The deepening hunger crisis in Gaza has sent the prices of what little food there is soaring, leaving daily essentials out of reach for many. "Obtaining food in Gaza is extremely difficult. Even when it is available, prices are multiplied by 100," Hassouna said. He explained that a kilogram of lentils which used to cost three shekels ($0.90) would now set him back 80 shekels ($24). The price of rice, he said, had gone up 20 fold. "Access to water is equally difficult, whether it is fresh water or salt water," Hassouna added. "Children have to queue for four, five, six or even seven hours to collect it". Hassouna said that his work documenting the conflict sometimes posed problems with Palestinians living in Gaza, who feared Israeli reprisals against journalists. "Some like journalists, others do not," he said. "Those who support us come to talk to me, 'Tell us what's happening, when will this war end? Make our voice heard abroad, tell the whole world that we don't want war'. "Others say the opposite, "Don't come near, don't join us. Journalists are targeted by Israeli bombings'." Media watchdog Reporters Without Borders (RSF) said in early July that more than 200 journalists had been killed in Gaza since Hamas's October 2023 attack sparked the war. That assault resulted in the deaths of 1,219 people, most of them civilians, according to an AFP tally based on official figures. Wishing calm for future generations, Hassouna said he wanted to send a message of peace. "Since our childhood, we have lived in war, and we do not want our children -- or even (Israeli) children -- to experience this," he said. "We all want a life without conflict." © 2025 AFP
Int'l Business Times
23-07-2025
- Health
- Int'l Business Times
AFP Journalist Covers War As Gaza Faces Extreme Shortages
With fuel prices exorbitant and road travel treacherous in the war-battered Gaza Strip, AFP video journalist Youssef Hassouna has to walk for hours in the searing heat every day just to document the news. "I walk 14 to 15 kilometres (nine miles) every day to reach the news sites," he said. "This morning, I walked about a 25-kilometre round trip in search of information." More than 21 months of war between Israel and Hamas have displaced almost all of Gaza's population, triggered severe shortages of food and other essentials, and reduced much of the Palestinian territory to rubble. Hassouna, 48, said his arduous journeys, in searing heat, were "very, very difficult" and even took their toll on his shoes. "I used to change my shoes every six months," he said. "Today, I wear out a pair every month." Whether filming the chaotic scramble for meagre aid or the bloody aftermath of an air strike, Hassouna said that extreme scarcities of food, clean water and medical care in Gaza further complicated his efforts to cover the devastating conflict. Israel's military campaign in Gaza has killed 59,106 Palestinians, mostly civilians, according to the health ministry in the Hamas-run territory. More than 100 aid organisations and human rights groups warned on Wednesday that "mass starvation" was spreading across the population of over two million people, after Israel imposed a more than two-month aid blockade, only easing it a little in late May. Hassouna, who is based in Gaza City, said his main struggle was accessing enough food to feed himself and his family, including a sick sister who lives with him. After living through almost two years of conflict, his once full face appears drawn and his eyes sunken. "My weight used to be around 110 kilograms (over 17 stone), today it is between 65 and 70 kilograms (barely 11 stone)," he said. The deepening hunger crisis in Gaza has sent the prices of what little food there is soaring, leaving daily essentials out of reach for many. "Obtaining food in Gaza is extremely difficult. Even when it is available, prices are multiplied by 100," Hassouna said. He explained that a kilogram of lentils which used to cost three shekels ($0.90) would now set him back 80 shekels ($24). The price of rice, he said, had gone up 20 fold. "Access to water is equally difficult, whether it is fresh water or salt water," Hassouna added. "Children have to queue for four, five, six or even seven hours to collect it". Hassouna said that his work documenting the conflict sometimes posed problems with Palestinians living in Gaza, who feared Israeli reprisals against journalists. "Some like journalists, others do not," he said. "Those who support us come to talk to me, 'Tell us what's happening, when will this war end? Make our voice heard abroad, tell the whole world that we don't want war'. "Others say the opposite, "Don't come near, don't join us. Journalists are targeted by Israeli bombings'." Media watchdog Reporters Without Borders (RSF) said in early July that more than 200 journalists had been killed in Gaza since Hamas's October 2023 attack sparked the war. That assault resulted in the deaths of 1,219 people, most of them civilians, according to an AFP tally based on official figures. Wishing calm for future generations, Hassouna said he wanted to send a message of peace. "Since our childhood, we have lived in war, and we do not want our children -- or even (Israeli) children -- to experience this," he said. "We all want a life without conflict." More than 21 months of war have displaced almost all of Gaza's population and triggered severe shortages of food and other essentials AFP
Broadcast Pro
13-07-2025
- Entertainment
- Broadcast Pro
Kino Lorber acquires Gaza documentary ‘Put Your Soul on Your Hand and Walk'
The film is written, directed, shot and edited by Iranian director Sepideh Farsi. Kino Lorber has secured North American distribution rights to Put Your Soul on Your Hand and Walk, a documentary by filmmaker Sepideh Farsi that captures life in Gaza through the lens of young Palestinian photojournalist Fatma Hassouna. The film, which made its world premiere in the 2025 Cannes ACID section and was later screened at the Karlovy Vary International Film Festival, offers a poignant look at the human cost of war and will be released theatrically by Kino Lorber, followed by digital, educational and home video rollouts. Told through video conversations between Farsi and Hassouna during the Israeli military invasion of Gaza, the film presents an unfiltered, personal account of life under siege. Tragedy struck just one day after the film's Cannes selection was announced when Hassouna and her family were killed in a targeted Israeli airstrike on April 16. The documentary now stands as both a powerful artistic achievement and a final testament to Hassouna's life, voice and vision. Combining urgency with emotional depth, Put Your Soul on Your Hand and Walk reveals the daily realities of young Palestinians caught in a seemingly unending cycle of conflict. The deal was negotiated by Karoliina Dwyer, VP of Acquisitions at Kino Lorber, and Sébastien Chesneau of Cercamon. 'Sepideh Farsi has crafted an intimate, courageous film that now stands as a final testament to the life of her friend, photojournalist and poet Fatma Hassouna. In the face of her tragic death and the continued destruction of Gaza, it feels more important than ever to ensure that Fatma's story is heard. We're honored and proud to partner with Sepideh and bring Put Your Soul on Your Hand and Walk to North American audiences,' said Dwyer. 'This film is a hand stretched out towards Gaza, trying to make a film despite the physical blockade, in order to reach the human. My encounter with Fatem, who became my mirrored soul, was a miracle. Her sunny smile and her photos will forever be a vivid testimony to the sufferings of the Palestinian people. I'm deeply moved to see the film released in North America by Kino Lorber, allowing Fatem's voice and spirit to resonate far beyond the borders she was never allowed to cross,' added director Sepideh Farsi. Put Your Soul on Your Hand and Walk is produced by Rêves d'Eau Productions in co-production with 24images. Sepideh Farsi is credited as the writer, director, cinematographer and editor of the film.
Sinar Daily
25-05-2025
- Entertainment
- Sinar Daily
'I thought she'd survive': Story of slain Gaza photojournalist touches Cannes
CANNES - A documentary whose main subject, 25-year-old photojournalist Fatima Hassouna, was killed in an Israeli air strike in Gaza weeks before it premiered at Cannes stunned viewers into silence at the festival Thursday. As the cinema lights came back on, film maker Sepideh Farsi held up an image of the young Palestinian woman killed with younger siblings on April 16, and encouraged the audience to stand up and clap to pay tribute. "To kill a child, to kill a photographer is unacceptable," Farsi said. "There are still children to save. It must be done fast," the exiled Iranian filmmaker added. With Israel banning foreign media from entering the besieged Palestinian territory, Farsi last year reached out to Hassouna through video call, and turned more than 200 days of conversations into the documentary "Put Your Soul on Your Hand and Walk". In often disjointed discussions due to bad internet connection, Hassouna smiles widely and bravely says she is ok. She recounts how she dreams of eating chicken amid dire food shortages, how she lost 14 relatives including a one-year-old in Israeli bombardment, and what she photographed that day. In one of her many pictures edited into the film, a little girl laughs on her father's lap in front of a tower block reduced to rubble. But in another, a boy aims a water hose at the bloodied pavement, trying to clean away the remains of his own family. 'Normal people' A day after Hassouna was told the documentary had been selected for a sidebar section at the world's most prestigious film festival, an Israeli missile pummelled her home in northern Gaza, killing her and 10 relatives. Israel has claimed it was targeting Palestinian Islamist militant group Hamas. "Why would you kill someone and decimate an entire family just because she was taking photos?" Farsi told AFP. "They were normal people. Her father was a taxi driver, she was a photographer, her sister was a painter and her little brother was 10 years old", said Farsi. "My heart goes out to her mother, who lost six of her children, her husband and her home." On Thursday, British filmmaker Ken Loach -- a double Palme d'Or winner -- on X called on people to honour Hassouna and fellow Palestinian journalists "who gave their lives to bear witness to mass murder". Tens of thousands have been killed in Gaza and an aid blockade threatens famine, while Israeli leaders continue to express a desire to empty the territory of Palestinians as part of the war sparked by Hamas's unprecedented October 7, 2023 attack. Reporters Without Borders estimates around 200 journalists have been killed in 18 months of Israeli strikes on Gaza. 'Reality caught up with us' As the Gaza death toll mounts, with rescuers saying 120 people were killed in Israeli strikes on Thursday alone, the conflict has cast a shadow over Cannes. Several actors have walked its red carpet wearing Palestinian flags pinned to their jackets, while others have sported a yellow ribbon for Israeli hostages still held in Gaza. Exiled Gazan film makers Arab and Tarzan Nasser will on Monday screen "Once Upon a Time in Gaza", a portrait of two friends set in 2007, the year Hamas started tightening its grip on the territory. On the eve of the festival, "Schindler's List" actor Ralph Fiennes and Hollywood star Richard Gere were among more than 380 figures to slam what they see as silence over "genocide" in Gaza. "The English Patient" actor Juliette Binoche, who heads the main competition jury, paid homage to Hassouna on opening night. Sepideh said she had believed until the very end that Hassouna "would survive, that she would come (to Cannes), that the war would stop. "But reality caught up with us," she said. - AFP
