One of Egypt’s top financial technology firms, U Consumer Finance, which operates under the brand name Valu, and the National Bank of Egypt (NBE) have inked a short-term financing deal worth up to EGP 3 billion.
- One of Egypt’s top financial technology firms, U Consumer Finance, which operates under the brand name Valu, and the National...
- The agreement is part of NBE’s broader plan to boost financial inclusion, support the non-banking financial sector, and expand access...
- The facility aims to support Valu’s liquidity during its current operational phase.
- Until the forthcoming bond issuance procedures are completed, the credit facility will support Valu’s continuing operations, ensuring business continuity and...
Keep reading for the full breakdown on consumer finance — everything you need to know is covered below.
The agreement is part of NBE’s broader plan to boost financial inclusion, support the non-banking financial sector, and expand access to innovative consumer financing options across the Egyptian market.
Walid Hassouna, CEO of Valu; Soha El-Turky and Yehia Abou El-Fotouh, deputy chief executive officers of the National Bank of Egypt; and senior representatives from both organisations attended the signing ceremony. The facility aims to support Valu’s liquidity during its current operational phase.
Deal shows NBE’s faith in Valu’s business plan
According to NBE, the funding demonstrates the bank’s faith in Valu’s business plan and its expanding contribution to the growth of Egypt’s consumer finance sector.
The bank underlined its dedication to collaborating with non-banking financial institutions that offer creative, ethical, and legally compliant financial solutions to boost regional demand and support long-term economic expansion.
Until the forthcoming bond issuance procedures are completed, the credit facility will support Valu’s continuing operations, ensuring business continuity and enabling the company to meet the growing demand for consumer finance services. To improve financing flexibility and long-term sector sustainability, NBE stated that one of its central tenets is strengthening alliances with leading fintech and non-banking financial institutions.
Deal to support expansion plans
In his statement, Valu praised the deal and said the National Bank of Egypt has been a strategic partner of the company since its founding. The financing will support expansion plans, provide operational flexibility, and help diversify funding sources, according to the company, thereby strengthening its capacity to serve customers effectively during a period of growth.
One of Egypt’s leading fintech firms, Valu, was established in 2017 as a division of EFG Holding and provides various consumer finance solutions and is governed by the Financial Regulatory Authority.
The company consistently expands its market share by developing new services that cater to evolving customer needs and legal mandates.