National Bank of Egypt

MNT-Halan Attracts $400 Million in Largest Funding in Egypt and the Middle East in the Past 12 Months

Retrieved on: 
Wednesday, February 1, 2023
Software, Payments, Finance, Banking, Professional Services, Technology, Fintech, Other Technology, Neuron, MERIS, CIB, Commercial International Bank, Commercial bank, Al Ahli Bank of Kuwait, System, Investment, National bank, National Bank of Egypt, Development finance institution, White & Case, Agricultural Bank, Sparebanken ABC, Housing and Development Bank, Shearman, International Bank, MNT, DPI, ADCB, Multimedia, Housing, Al Baraka Bank Pakistan, Financial services, Amusement park

In addition, the company is in advanced stages with leading international investors to raise $60 million of primary capital.

Key Points: 
  • In addition, the company is in advanced stages with leading international investors to raise $60 million of primary capital.
  • These investments demonstrate continued confidence in MNT-Halan’s value proposition, management team and superior technology, and will also enable international growth.
  • This funding follows a $120 million investment in Q3 2021 by other major global and regional growth investors, including Development Partners International (DPI), Apis Growth Fund II, and Lorax Capital Partners.
  • Seif Fikry, CEO of Chimera Abu Dhabi, said, “We are thrilled to be part of Egypt’s greatest fintech success story.

Egypt Construction Market Report 2022: Industry to Grow by 10.4% this Year, Supported by Increased Investments in Infrastructure and Energy Projects - ResearchAndMarkets.com

Retrieved on: 
Monday, August 8, 2022
Construction & Property, Other Construction & Property, Central Bank of Egypt, Asian Infrastructure Investment Bank, National Authority for Remote Sensing and Space Sciences, Construction, OPEC Fund for International Development, Industry, Growth, Investment, World Bank, New Administrative Capital, Relaxation, Government, Sector, World, Yoy, National bank, International development, Water, NAC, Electricity, National Bank of Egypt, Commercial, AIIB, CBE, Housing, NBE, Central bank, Renewable energy

The "Egypt Construction Market Size, Trends and Forecast by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Construction, 2022-2026" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Egypt Construction Market Size, Trends and Forecast by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Construction, 2022-2026" report has been added to ResearchAndMarkets.com's offering.
  • The Egyptian construction industry grew by an estimated 8% in real terms in 2021, compared to growth of 3% in 2020.
  • The publisher expects the industry to grow by 10.4% this year, supported by increased investments in infrastructure and energy projects.
  • These projects will support investments in the infrastructure and petrochemical sectors, and are expected to drive growth across the construction value chain.

MNT-Halan Closes US c.$150 Million Securitized Bond Issuance as Part of a US $600 Million Program

Retrieved on: 
Monday, June 27, 2022
Technology, Finance, Fintech, Banking, Other Technology, Electronic Commerce, Professional Services, Software, Digital Cash Management, Digital Assets, Internet, National Bank of Egypt, Financial Regulatory Authority, Agricultural Bank, Al Ahli Bank of Kuwait, International Bank, Commercial bank, App Store (iOS/iPadOS), Growth, Development finance institution, ADCB, Central bank, Housing, Contract, Housing and Development Bank, CIB, Capital market, Al Baraka Bank Pakistan, Science and technology in Asia, Central Bank of Egypt, Small business, National bank, MNT, Bank, Financial services

The proceeds will fuel the companys accelerated growth across multiple lending business lines and MNT-Halans expansion into new verticals.

Key Points: 
  • The proceeds will fuel the companys accelerated growth across multiple lending business lines and MNT-Halans expansion into new verticals.
  • The companys digital ecosystem includes small business and consumer lending, payments, and e-commerce, all of which are backed by the companys proprietary technology - Neuron.
  • Commenting on the issuance, MNT-Halan CEO Mounir Nakhla said, We are especially pleased with the confidence that investors have placed in our company.
  • With c.1 million monthly active users, MNT-Halan serves more than 4 million customers in Egypt, of which 3.1 million are financial clients and 1.8 million are borrowers.

Avanz Capital Egypt Establishes Avanz Manara

Retrieved on: 
Sunday, March 27, 2022
Banking, Professional Services, Finance, Financial Regulatory Authority, Private equity, Sustainable Development Goals, Central bank, Private sector, Seemabaddha, National bank, Growth, History of private equity and venture capital, LP, Ahli United Bank, Goal, SME, ACE, Attijariwafa Bank, Banque du Caire, United Bank, Sustainable development, EGP, Suez Canal Bank, Sustainable Development Goal 8, National Bank of Egypt, Banque Misr, Partnership, Security (finance), Financial services

Avanz Capital Egypt announced today the establishment of Avanz Manara for Private Equity, Company Limited by Shares (Avanz Manara), an investment holding company established under the oversight of the Financial Regulatory Authority.

Key Points: 
  • Avanz Capital Egypt announced today the establishment of Avanz Manara for Private Equity, Company Limited by Shares (Avanz Manara), an investment holding company established under the oversight of the Financial Regulatory Authority.
  • Avanz Manara will work in partnership with the growing number of private equity and venture capital funds investing in Egypt to provide capital and global best practices to grow the private equity and venture capital industry in Egypt and attract international investors to support the growth of the countrys private sector.
  • The authorized capital of Avanz Manara is EGP 2 billion, with initial subscribed capital of EGP 905 million from Egyptian institutional investors.
  • Avanz Capital Egypt (ACE) is an Egyptian-domiciled investment manager established to manage Avanz Manara for Private Equity, Company Limited by Shares.

MENA's leading cCommerce platform Zbooni launches in Egypt

Retrieved on: 
Wednesday, February 16, 2022
AI, PCI, COO, Social media, SME, PCI DSS, Facebook, Solution, National Bank of Egypt, Safety, WhatsApp, Artificial intelligence, Partnership, Machine learning, Growth, KYC, AML, E-commerce, Jumia Group, National bank, Cryptocurrency, Online shopping, Telegraphy

CAIRO, Feb. 16, 2022 /PRNewswire/ -- Zbooni, MENA's leading cCommerce platform, has announced its official launch in Egypt. The rapidly scaling start-up, which is backed by regional and global investors, will support the backbone of the Egyptian economy by providing digital commerce tools for the estimated 3.5 million small to medium size enterprises (SMEs) across the country.

Key Points: 
  • Zbooni releases new global website, app and dashboard aligned with geographic expansion
    CAIRO, Feb. 16, 2022 /PRNewswire/ --Zbooni, MENA's leading cCommerce platform, has announced its official launch in Egypt.
  • The average cCommerce cart is 2.7 times bigger than traditional eCommerce and conversion rates are 20 times higher than eCommerce.
  • Ashraf Atia, co-founder and COO of Zbooni said, "We're excited to launch in Egypt and pioneer cCommerce with inspiring Egyptian entrepreneurs and businesses.
  • Its merchant app went live in 2018, developing to its current robust platform as the MENA region's pioneer in cCommerce.

MENA's leading cCommerce platform Zbooni launches in Egypt

Retrieved on: 
Wednesday, February 16, 2022
AI, PCI, COO, Social media, SME, PCI DSS, Facebook, Solution, National Bank of Egypt, Safety, WhatsApp, Artificial intelligence, Partnership, Machine learning, Growth, Multimedia, KYC, AML, E-commerce, Jumia Group, National bank, Cryptocurrency, Online shopping, Telegraphy

CAIRO, Feb. 16, 2022 /PRNewswire/ --Zbooni, MENA's leading cCommerce platform, has announced its official launch in Egypt.

Key Points: 
  • CAIRO, Feb. 16, 2022 /PRNewswire/ --Zbooni, MENA's leading cCommerce platform, has announced its official launch in Egypt.
  • The average cCommerce cart is 2.7 times bigger than traditional eCommerce and conversion rates are 20 times higher than eCommerce.
  • Ashraf Atia, co-founder and COO of Zbooni said, "We're excited to launch in Egypt and pioneer cCommerce with inspiring Egyptian entrepreneurs and businesses.
  • Its merchant app went live in 2018, developing to its current robust platform as the MENA region's pioneer in cCommerce.

Egypt Banking Industry Report 2021 Featuring National Bank of Egypt, Banque Misr, Banque du Caire, Commercial International Bank, QNB Alahli, HSBC and Credit Agricole Egypt - ResearchAndMarkets.com

Retrieved on: 
Wednesday, February 9, 2022
Banking, Professional Services, National bank, Industry, Growth, Science and technology in Asia, Sale, Islam, Crédit Agricole, Population, Banque Misr, HSBC, ATM, Environment, National Bank of Egypt, Banque du Caire, Legislation, Bank, Weather, Cryptocurrency

The "The Banking Industry in Egypt 2021" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "The Banking Industry in Egypt 2021" report has been added to ResearchAndMarkets.com's offering.
  • This report on the Egyptian banking industry covers deposit-taking institutions, as well as central banking.
  • There are profiles of 16 companies including state-owned banks such as the National Bank of Egypt, Banque Misr and Banque du Caire, major private banks including Commercial International Bank and QNB Alahli and international banks in Egypt such as HSBC and Credit Agricole Egypt.
  • The pandemic fuelled significant growth in digital banking, with the value of electronic transactions growing exponentially.

AM Best Affirms Credit Ratings of Misr Life Insurance Company

Retrieved on: 
Thursday, December 16, 2021
Professional Services, Insurance, Finance, Insurance, Good, Credit, EGP, ROE, Industry, MLIC, National Bank of Egypt, National bank, AM, AM Best, Risk management, ALL, MIHC, News

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of bbb (Good) of Misr Life Insurance Company (MLIC) (Egypt).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of bbb (Good) of Misr Life Insurance Company (MLIC) (Egypt).
  • MLIC is the life insurance subsidiary of Misr Insurance Holding Company (MIHC) (Egypt).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .