Latest news with #MounirNakhla
Daily News Egypt
01-07-2025
- Business
- Daily News Egypt
MSMEDA allocates EGP 400m to support micro enterprises via Tasaheel
The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed a new microfinance contract worth EGP 400m with Tasaheel for Small, Medium and Micro Enterprise Finance, aiming to expand funding for micro-scale projects across Egypt. The agreement was signed by Nevine Badr El-Din, Head of the Central Microfinance Sector at MSMEDA, and Mounir Nakhla, Chairperson of Tasaheel, in the presence of MSMEDA CEO Bassel Rahmy and Deputy CEO Mohamed Medhat. Rahmy affirmed MSMEDA's ongoing efforts to broaden access to microfinance through partnerships with a wider network of microfinance institutions. This initiative, he said, supports self-employment and the establishment of productive, sustainable businesses that generate decent job opportunities. He explained that the contract is designed to finance both newly established and existing micro-enterprises, helping them to expand, upgrade operations, and purchase equipment. This, in turn, is expected to contribute to increased productivity and job creation—both permanent and temporary—across various sectors. According to Rahmy, the agreement is projected to finance around 8,000 micro-enterprises, with average funding estimated at EGP 266,000 per project, depending on the specific needs of each enterprise. Funds may be used for working capital or investment in fixed assets such as machinery. He noted that this initiative is part of MSMEDA's broader 2025 strategy to scale up micro-enterprise financing, a critical driver of employment generation in Egypt. It aligns with the directives of Prime Minister Mostafa Madbouly, who chairs the agency's board, to increase the sector's contribution to the national economy—particularly in local manufacturing and agriculture. Mounir Nakhla expressed pride in Tasaheel's continued partnership with MSMEDA, describing it as a successful model of public-private cooperation aimed at empowering micro-entrepreneurs. 'This agreement will help improve the quality of life for Egyptian families by creating sustainable jobs across governorates and driving inclusive economic development,' he said. Nevine Badr El-Din highlighted the success of previous contracts between the two parties. The first agreement, signed in 2017, financed 2,257 micro-enterprises with a total value of EGP 28m, with women representing 52% of beneficiaries. Under the second agreement in 2022, approximately 37,459 micro-enterprises received a combined total of EGP 307m, again with over 50% of the recipients being women.
Zawya
27-06-2025
- Business
- Zawya
MNT-Halan's Tasaheel concludes Egypt's first SME-focused issuance at $94mln
Cairo - Tasaheel, part of MNT-Halan, has completed Egypt's first securitization issuance, with a total value of EGP 4.70 billion across six tranches. The issuance was rated 'P1' for short-term tranches and 'A-' for long-term tranches by Middle East Rating and Investors Service (MERIS), according to a press release. Backed exclusively by a portfolio of SMEs, the transaction aligns with the company's objectives to support the economic sector and marks the largest securitization issuance in Egypt in 2025. This offering anchors Tasaheel's strategy to secure financial solutions that promote financial inclusion and drive economic growth by supporting entrepreneurs and SMEs. This is in addition to scaling access to financial services across Egypt. Ahli Pharos and the Arab African International Bank (AAIB) acted as financial advisors and lead arrangers for the transaction. Matouk Bassiouny & Hennawy served as legal advisor, while Baker Tilly was the financial auditor. The issuance was underwritten by the National Bank of Egypt (NBE), Commercial International Bank-Egypt (CIB), Suez Canal Bank, AAIB, and Ahli Pharos. The Egyptian Gulf Bank (EG Bank) acted as the custodian bank. Mounir Nakhla, Founder and CEO of MNT-Halan, commented: 'This issuance marks an important milestone in Tasaheel's journey and reflects the strength of its credit portfolio and the trust placed in its performance by financial institutions.' 'Expanding access to finance for SMEs is a cornerstone for supporting Egypt's economic development, and we are proud to lead this effort through Tasaheel,' Nakhla added. Tasaheel disburses more than EGP 1 billion monthly to back entrepreneurs and small businesses, holding over 70% market share within the non-banking financial sector in Egypt. Last March, the Financial Regulatory Authority (FRA) greenlighted MNT-Halan's request to implement electronic Know Your Customer (e-KYC) and digital contracts in Egypt.
Zawya
25-06-2025
- Business
- Zawya
MNT-Halan's Tasaheel closes Egypt's first SME-focused issuance worth EGP4.7bln
Cairo – Tasaheel, Egypt's largest and fastest-growing lender for small businesses and entrepreneurs, and part of MNT-Halan, has successfully completed Egypt's first securitization issuance backed exclusively by a portfolio of SMEs, with a total value of EGP 4.7 billion across six tranches. This transaction underscores the company's leadership in supporting this vital economic sector and marks the largest securitization issuance in Egypt in 2025. The issuance was rated 'P1' for short-term tranches and 'A-' for long-term tranches by MERIS (Middle East Rating & Investors Service), reflecting the strength and quality of the underlying portfolio. This transaction aligns with Tasaheel's strategy to provide financial solutions that promote financial inclusion and drive economic growth by supporting entrepreneurs and SMEs, while expanding access to financial services across Egypt. Ahli Pharos and the Arab African International Bank acted as financial advisors and lead arrangers for the transaction. Matouk Bassiouny ; Hennawy served as legal advisor, while Baker Tilly acted as the financial auditor. The issuance was underwritten by the National Bank of Egypt (NBE), Commercial International Bank (CIB), Suez Canal Bank, Arab African International Bank, and Ahli Pharos. The Egyptian Gulf Bank acted as the custodian bank. Mounir Nakhla, Founder and CEO of MNT-Halan, commented: This issuance marks an important milestone in Tasaheel's journey and reflects the strength of its credit portfolio and the trust placed in its performance by financial institutions. Expanding access to finance for SMEs is a cornerstone for supporting Egypt's economic development, and we are proud to lead this effort through Tasaheel. It is worth noting that Tasaheel disburses over EGP 1 billion monthly to support entrepreneurs and small businesses and holds more than 70% market share within the non-banking financial sector in Egypt, solidifying its leadership in this field.
Business Recorder
06-06-2025
- Business
- Business Recorder
Countrywide expansion: Halan receives licence from State Bank of Pakistan
KARACHI: Halan Microfinance Bank ('the Bank'), a Pakistani microfinance bank owned by MNT-Halan, Egypt and the MENA region's first fintech unicorn, has received a national license from the State Bank of Pakistan, allowing it to expand outside Sindh to the rest of the country. The national license permits the Bank to launch and manage financial services, including branchless banking, cards, mobile banking, retailer-based transactions, and wallet services. These services will complement the Bank's current product suite, which includes microfinance, salary advances, pensions, current accounts, and savings accounts. Commenting on this development, Mounir Nakhla, Founder and Chief Executive Officer of MNT-Halan, said that securing a national license is a major step in our journey to serve more people and businesses across Pakistan. This milestone would not have been possible without the continued support of the State Bank of Pakistan, he said. Copyright Business Recorder, 2025
Business Recorder
06-06-2025
- Business
- Business Recorder
Countrywide expansion: Halan receives licence from SBP
KARACHI: Halan Microfinance Bank ('the Bank'), a Pakistani microfinance bank owned by MNT-Halan, Egypt and the MENA region's first fintech unicorn, has received a national license from the State Bank of Pakistan, allowing it to expand outside Sindh to the rest of the country. The national license permits the Bank to launch and manage financial services, including branchless banking, cards, mobile banking, retailer-based transactions, and wallet services. These services will complement the Bank's current product suite, which includes microfinance, salary advances, pensions, current accounts, and savings accounts. Commenting on this development, Mounir Nakhla, Founder and Chief Executive Officer of MNT-Halan, said that securing a national license is a major step in our journey to serve more people and businesses across Pakistan. This milestone would not have been possible without the continued support of the State Bank of Pakistan, he said. Copyright Business Recorder, 2025
