Latest news with #MNT-Halan
Zawya
2 days ago
- Business
- Zawya
Egyptian startups secure $228mln in funding in 5 months
Arab Finance: Egypt's startup ecosystem has seen significant growth in attracting venture capital and debt financing, with investments reaching $228 million from January to May 2025, according to the Ministerial Group for Entrepreneurship. This represents a 130% increase over the same period in 2024. The group reported 16 deals executed during the first five months of the year, 11 of which involved investments totaling $156 million. Additionally, two startups, Nawy and MNT-Halan, secured substantial debt financing, receiving $23 million and $49 million, respectively. In addition to funding, Egypt's startup sector has seen notable exit and acquisition activity, including Dubizzle's acquisition of the online car trading platform Hatla2ee and MaxAB-Wasoko's acquisition of Fatora. The proptech sector led in terms of investment volume, contributing to 33% of total funding, while the fintech sector dominated in deal volume with five transactions, accounting for 32% of the total investment. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
Egypt's startup funding surges 130% to $228mln in January-May
Cairo: Egypt's startup sector attracted 228 million U.S. dollars in funding from January to May, marking a 130-percent increase compared to the same period last year, the Egyptian government said on Sunday. A total of 16 deals were executed during the five-month period, including 11 with disclosed investment volumes totaling 156 million U.S. dollars. Additionally, real estate startup "Nawy" and fintech company "MNT-Halan" secured debt financing worth 23 million and 49 million dollars, respectively, the Ministry of Planning, Economic Development and International Cooperation said in a statement. "These indicators reflect the continuous activity in Egypt's startup market, particularly with the measures taken by the state to improve the investment climate and business environment," said Rania Al-Mashat, minister of Planning, Economic Development and International Cooperation and head of the Ministerial Group for Entrepreneurship. She added that the government had taken significant steps to empower startups and enhance their ability to attract larger investments, "notably including tax incentives for companies with revenues less than 20 million Egyptian pounds (about 400,000 U.S. dollars)." The property technology sector led in terms of venture capital investment volume, accounting for 33 percent of total investments, while the financial technology sector led in the number of deals, with five transactions representing 32 percent of the overall investment, the ministry noted. The Ministerial Group for Entrepreneurship was launched in September 2024 to foster Egypt's startup environment through policy coordination, funding initiatives, and new proposals aimed at supporting early-stage companies, according to the statement. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
CairoScene
3 days ago
- Business
- CairoScene
Egyptian Startups Secure $228 Million in First Five Months of 2025
Egyptian Startups Secure $228 Million in First Five Months of 2025 Egyptian startups have attracted $228 million in venture capital and debt financing from January to May 2025, according to a statement from the Ministerial Group for Entrepreneurship. The figures mark a 130% year-on-year increase in disclosed investment volume, reflecting continued growth in Egypt's startup ecosystem despite ongoing economic challenges. In total, 16 deals were recorded during the period, with 11 of them publicly disclosing investment amounts that collectively reached $156 million. In addition to equity investments, two notable debt financing deals were secured: proptech platform Nawy raised $23 million, while fintech firm MNT-Halan secured $49 million. The proptech sector led in terms of total investment volume, accounting for 33% of all capital raised, while fintech topped the charts in deal count, with five transactions comprising 32% of total investment value. H.E. Dr. Rania Al-Mashat, Egypt's Minister of Planning, Economic Development and International Cooperation and head of the Ministerial Group for Entrepreneurship, stated that the funding growth reflects continued momentum in Egypt's startup market. Dr. Al-Mashat attributed this progress to government-led efforts to improve the business climate and support private sector growth through targeted structural reforms. Dr. Al-Mashat confirmed that work is currently underway on a national Startup Charter, alongside a range of funding initiatives and financial incentives to promote investment, including tax benefits for startups with annual revenues under EGP 20 million. In addition to new funding, the local startup ecosystem saw a number of key acquisition deals. These included Dubizzle's acquisition of used car marketplace Hatla2ee, as well as the acquisition of digital payments platform Fatora by MaxAB-Wasoko. The Ministerial Group for Entrepreneurship was launched by the Egyptian government to coordinate startup policy across relevant ministries and to develop initiatives that foster an enabling ecosystem for entrepreneurship. As part of this mandate, the group aims to promote Egypt's visibility on the global startup map while supporting sustainable and inclusive economic growth.
See - Sada Elbalad
3 days ago
- Business
- See - Sada Elbalad
Ministerial Group for Entrepreneurship: Egyptian Startups Attract $228M in Funding from January to May 2025
Ahmed Emam The Ministerial Group for Entrepreneurship announced that Egypt's startup structure witnessed significant development in attracting venture capital investments and debt financing during the first five months of this year, reaching $228 million, based on deals monitored since the beginning of the year. A statement issued by the Ministerial Group for Entrepreneurship clarified that 16 deals were executed from January to May 2025, including 11 deals with announced investment volumes totaling $156 million. These investments represent a 130% increase compared to the investment volume during the same period last year (2024). Moreover, "Nawy" and "MNT-Halan" successfully secured debt financing of $23 million and $49 million, respectively. In this context, Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and head of the Ministerial Group for Entrepreneurship, affirmed that these indicators reflect the continuous activity in Egypt's startup market, particularly with the measures taken by the state to improve the investment climate and business environment, making it more conducive and attractive for companies of all types. This is in addition to ongoing endeavors to implement structural reforms to ensure sustainable macroeconomic stability. Al-Mashat pointed out that startups and the investment climate, in general, receive paramount attention from the Egyptian state, led by H.E. President Abdel Fattah El-Sisi, President of the Republic of Egypt, and various relevant authorities. She highlighted that the Ministerial Group for Entrepreneurship is working on finalizing the Startup Charter, as well as funding initiatives and facilities that stimulate efforts to attract venture capital investments. Al-Mashat also reiterated that the Egyptian government has taken significant steps to empower startups and enhance their ability to attract larger investments, notably including tax incentives for companies with revenues less than EGP 20 million. Minister Al-Mashat noted that the Ministerial Group for Entrepreneurship adopts a comprehensive and integrated approach to support Egyptian youth in the field of entrepreneurship. The Ministerial Group's main objective is to strengthen the ability of startups and the entrepreneurial environment to achieve sustainable and accelerated economic growth based on competitiveness and knowledge, as part of the state's plan to put Egypt on the global map of entrepreneurship. In a related context, Egypt's startup market underwent a series of exit and acquisition deals, most notably Dubizzle's acquisition of the online car trading platform "Hatla2ee," and MaxAB-Wasoko's acquisition of "Fatora." The PropTech (property technology) sector led in terms of venture capital investment volume, accounting for 33% of total investments, while the FinTech (financial technology) sector led in the number of deals with 5 transactions, representing 32% of the total investment volume during the same period. It is worth noting that the government launched the Ministerial Group for Entrepreneurship with the aim of fostering the entrepreneurial environment and promoting startups through launching new initiatives and proposals, aiding startups, coordinating efforts among government entities, and formulating supportive policies for entrepreneurship. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
Zawya
05-05-2025
- Business
- Zawya
Egypt's MNT-Halan sells $50mln in local corporate bonds
Egyptian microfinance lending and payments company MNT-Halan sold 2.5 billion Egyptian pounds ($49.4 million) in corporate bonds to finance further growth of its Egyptian loan book, it said in a statement on Monday. The bonds were sold to institutional lenders, the company added. MNT-Halan, Egypt's first unicorn, or privately held venture capital company worth more than $1 billion, expanded outside Egypt last year with the purchase of Turkish micro-leasing company Tam Finans. The company says it has disbursed more than $11 billion in loans both inside and outside of Egypt. ($1 = 50.6300 Egyptian pounds) (Reporting by Patrick Werr Editing by Tomasz Janowski)
