Latest news with #JohnSaad
Zawya
a day ago
- Business
- Zawya
Egypt: Contact Financial appoints new CEO; total portfolio exceeds $422mln in 2024
Arab Finance: Said Zater has handed over executive leadership to John Saad, who assumed the role of Managing Director and CEO of Contact Financial Holding, according to an emailed press release. This leadership shift coincides with Zater's appointment as Vice Chairman of the group, which ended 2024 with a total financing portfolio exceeding EGP 21 billion. Saad brings more than 20 years of diverse experience in commercial and marketing within the technology sector across various markets. He began his career at one of Egypt's largest telecom companies, where he advanced through several marketing roles before ascending to prominent C-level positions. The new official served as Chief Commercial Officer (CCO) at key companies across Egypt, Qatar, Saudi Arabia, and the UAE. He also held the position of CEO at a leading digital entertainment platform in the MENA region and is the Co-Founder and CEO of one of the region's leading AI-focused companies. Saad commented on his new role: 'It is an honor to be part of this Group, which has achieved a total lending of nearly EGP 75 billion since inception. I look forward to driving excellence by building upon these achievements, prioritizing customer-centricity, and developing innovative financing solutions, while preserving the Group's strong foundation and deeply rooted values." In capital markets, Contact maintained its position as a key player through Sarwa Securitization, as the group successfully closed its 45th bond issuance in 2024, valued at EGP 1.2 billion. Accordingly, the total value of bonds issued in the Egyptian market and backed by portfolios generated by Contact hit around EGP 30 billion through 29 bonds. Contact's insurance division also registered a significant performance, with Sarwa Insurance, Sarwa Life Insurance, and Contact Insurance Brokerage collectively recording Gross Written Premiums (GWP) nearing EGP 7 billion by the end of 2024. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Identity
2 days ago
- Business
- Identity
Contact Financial Holding Appoints John Saad as CEO, building on the Solid Foundation Laid by Said Zater with Strong FY24
In a strategic move, Contact Financial Holding reaffirmed its ongoing commitment to growth, innovation, and market leadership, as Said Zater has officially handed over executive leadership to John Saad, who assumes the role of Managing Director and Chief Executive Officer of Contact Financial Holding. This leadership shift coincides with Zater's appointment as Vice Chairman of the Group's Board of Directors. The Group has maintained a solid performance over the years, closing FY24 with a total financing portfolio exceeding EGP 21 bn.
Zawya
3 days ago
- Business
- Zawya
Contact Financial Holding appoints John Saad as CEO
'Said Zater Hands Over Contact's Executive Leadership to John Saad with a Total Portfolio Exceeding EGP 21bn, Total Lending worth almost EGP 75bn and Gross Written Premiums reaching nearly EGP 7bn By FY24' 'John Saad Succeeds Said Zater as Contact Financial Holding CEO Following Strong FY24 Results: Over EGP 21bn in Total Portfolio, Nearly EGP 75bn in Total Lending, and Almost EGP 7bn in Gross Written Premiums' Cairo: In a strategic move, Contact Financial Holding reaffirmed its ongoing commitment to growth, innovation, and market leadership, as Said Zater has officially handed over executive leadership to John Saad, who assumes the role of Managing Director and Chief Executive Officer of Contact Financial Holding. This leadership shift coincides with Zater's appointment as Vice Chairman of the Group's Board of Directors. The Group has maintained a solid performance over the years, closing FY24 with a total financing portfolio exceeding EGP 21 bn. John Saad brings over 20 years of diverse experience in commercial and marketing within the technology sector across various markets. Saad began his professional journey at one of Egypt's largest telecom companies, where he advanced through multiple marketing roles before ascending to prominent C-level positions. He has served as Chief Commercial Officer (CCO) at several distinguished companies across Egypt, Qatar, Saudi Arabia, and the UAE. He also served as CEO of a leading digital entertainment platform in the MENA region and is the Co-Founder and CEO of one of the region's leading AI-focused companies. John Saad, CEO of Contact Financial Holding, stated: "I am thrilled to join Contact Financial Holding and would like to extend my sincere appreciation to Said Zater for his visionary leadership, which has firmly positioned Contact among Egypt's top non-banking financial institutions. It is an honor to be part of this Group, which has achieved a total lending of nearly EGP 75 bn since inception. I look forward to driving excellence by building upon these achievements, prioritizing customer-centricity, and developing innovative financing solutions, while preserving the Group's strong foundation and deeply rooted values." As Egypt's first licensed consumer finance provider, Contact has maintained its market leadership for over 24 years by continuously offering innovative and customer-focused financial solutions. Through its financing arms, Contact Credit, offering a wide range of financing solutions including auto loans, home interior, furniture, education, club memberships, and green finance; and Contact Creditech, which has transformed the fintech landscape with its AI-powered 'Contact Now' app, enabling real-time credit assessment and instant financing approvals, transforming the customer experience. The Group has significantly expanded its offerings, to include leasing, mortgage, and factoring, backed by a network of 72 branches across Egypt, a Dubai-based office serving Egyptian expatriates in the UAE and a regional presence in Kenya through its subsidiary 'Almasi'. In capital markets, Contact remains a key player through 'Sarwa Securitization'. The Group successfully closed its 45th bond issuance in 2024, valued at EGP 1.2 bn. With this issuance, the total value of bonds issued in the Egyptian market and backed by portfolios generated by Contact has reached approximately EGP 30 bn through 29 bonds. This stands as a testament to Contact's exceptional expertise in structuring and managing debt instruments and attracting investors. Beyond securitization, Contact has also played a leading role in sukuk issuances, further cementing its position as Egypt's largest fully integrated player in the DCM prospect. In parallel with its pioneering role in consumer finance, Contact's insurance division has also demonstrated remarkable performance, with Sarwa Insurance, Sarwa Life Insurance, and Contact Insurance Brokerage collectively achieving Gross Written Premiums (GWP) nearing EGP 7 bn by the end of 2024. The Group continues to expand its integrated offerings, delivering customer-centric insurance solutions that align with evolving market demands. Contact's remarkable growth is fueled by its innovation-driven and digital transformation approach, driven by a team of more than 3,000 skilled professionals that has firmly established the company as a leader in Egypt's financial sector. Contact continues to lead the market with its digital offerings, particularly 'ContactNow' app, which facilitates customers' access to financial solutions. Additionally, ' Egypt's first specialized digital automotive platform, offering innovative solutions that streamline the processes of buying, selling, financing, and insuring vehicles for both individuals and dealers. witnessed substantial growth, with monthly users reaching 1.2 mn by the end of 2024. In recognition of its digital leadership, Contact was named one of Forbes Middle East's 'Top 50 Fintech Companies in Egypt' for the second consecutive year. Backed by this solid foundation, Contact continues to strengthen its position as the leading non-banking financial services provider and Egypt's most powerful digital arm in the financing and insurance sectors.
