Cairo – Mubasher: Aman Holding, the business line of the listed Raya Holding For Financial Investments, recorded revenues surpassing EGP 4.60 billion, with a capital of EGP 1.06 billion following the hike transaction announced in November 2023.
The company's credit facilities jumped to EGP 9 billion, backed by the issuance of three bond securitisations totaling EGP 2.50 billion throughout the year, according to a press release.
The microfinance operations witnessed a 35% year-on-year (YoY) growth in 2023, with total financing reaching EGP 4.90 billion through 200 branches, including 40 newly established branches during the year.
Moreover, Islamic finance completed more than 1,700 successful transactions valued at over EGP 60 million through its seven branches.
Hazem Moghazy, CEO of Business and Commercial Affairs at AMAN Holding, said: "We are proud to announce a total issuance of EGP 4 billion, reflecting a 38% increase in our customer base, now totalling 229 branches nationwide."
“We are excited to announce our recent partnerships with over 500 merchants and brands, including Jumia, ElAraby, and Cairo Sales, as part of our commitment to expanding our offerings,” Moghazy added.
The CEO underlined: “Additionally, we are proud to be activating 'e-wallets' for prominent partners such as Etisalat and CIB within our branches, supporting financial inclusion and Egypt's Vision 2030 for a cashless economy."
Mohamed Wahby, CEO of Products & Technology AMAN Holding, commented: "We aim to attract more merchants and consumers who mainly rely on cash for their daily transactions, encouraging them to embrace the concept of a cashless economy in line with the country's vision."
"AMAN’s remarkable 32% growth in electronic payments, surpassing EGP 41 billion in transactions and completing 550 million transactions, underscores our unwavering dedication to delivering cutting-edge financial technology services and ensuring a seamless, secure user experience," Wahby noted.
As for the growth plans for 2024, AMAN Holding is committed to expanding its market share in Egypt and introducing new products and services, as it intends to establish AMAN Sukuk Company to boost financial inclusion.
