Every StartupHub.today article filed under Consumer Financing.
PayMint, an Egyptian FinTech company founded in 2019, is on a mission to simplify digital payments for businesses, especially small and medium-sized enterprises (SMEs). They offer comprehensive solutions to help companies manage their finances more efficiently and contribute to Egypt's move towards a cashless economy.
The Central Bank of Egypt has just released new guidelines for how banks should work with finance companies in Egypt. This move comes as there's been a lot of talk and debate about how quickly non-banking financial services are growing and the credit assessment standards being used in the sector.
Haitham Wagih, Managing Director of Avanz Capital, emphasizes that banks and non-banking financial companies should integrate their efforts to support the national economy, rather than viewing their roles as a competitive struggle. He argues that collaboration is key to fostering economic growth and financial inclusion, drawing on his extensive experience in Egypt's financial sector.
Egypt's Financial Regulatory Authority (FRA) is tightening its rules for non-banking financial activities. This move aims to make the sector more stable and better equipped to handle risks, ensuring a healthier financial environment for everyone.
Bank Albilad just launched its new company, Dafaa Finance, to shake up consumer lending in Saudi Arabia! After getting the green light from SAMA, Dafaa Finance will offer super flexible installment plans, helping more people access financial services and pushing forward digital transformation across the Kingdom.
Souhoola is getting ready to securitize EGP 1.2 billion by 2026. This big move is all about boosting their consumer finance offerings and growing their loan portfolio to a huge EGP 9 billion, showing their commitment to sustainable expansion in the Egyptian market.
