Aman Launches New Subsidiary, Aman Securitization Company, to Deepen Financial Inclusion in Egypt 

Aman Launches New Subsidiary, Aman Securitization Company, to Deepen Financial Inclusion in Egypt 

Aman Group, an Egyptian-based Fintech company that provides non-banking services, has announced the launch of Aman Securitization Company.

The firm is a subsidiary of Raya Holding for Financial Investments. As a leading company in the Egyptian fintech space, Aman for E-Payment works to achieve financial inclusion through digital solutions. It offers over 700 services through its network of over 120,000 merchants in Egypt. It also works to achieve a cashless society and raise customers’ awareness of accepting non-cash transactions.

The Group has also diversified its offering into two new verticals, namely nano-finance, with a maximum of $160 to support marginalized groups, and Islamic finance, which is very popular in Egypt.

What Aman Intends to Achieve with ASC

Hazem Moghazy, CEO and Managing Director of Aman Financial Services, said “The Group is committed to providing a comprehensive platform for financial services to customers of all categories. We are also keen on the permanent development of these services and investing in them to support the non-banking financial sector and achieve financial inclusion. The next stage is to raise awareness about the company and its integrated services through extensive marketing and awareness campaigns. This is why we recently invested $12.6 million to increase the group’s capital to $32.4 million to enhance its spread in the local market so that Aman services can reach more customers and beneficiaries”.

The CEO equally added, “Aman Financial Services is constantly diversifying its services to be the first choice for all categories of customers, especially those not included in the banking sector.”

Providing some insights into what Amen E-Payments represent, Mohamed Wahby, CEO of Aman for Electronic Payments, on his part said, “Aman for Electronic Payments is the backbone of Aman Group. The company is widespread nationwide, with more than 150,000 points of sale that provide 2,000 electronic payment services. Moreover, Aman’s daily operations volume is more than 2 million transactions per day.”

While, Ahmed El-Khatib, CEO and Managing Director of Aman Microfinance, explained “Aman Microfinance is committed to supporting small and medium enterprises for success and continuity in light of crises and rapid changes in the business world and achieving sustainability. The company aims to inject microfinance with a value of $168.9 million during the current year, in addition to EGP 500m for small and medium enterprises.”

“We have also financed more than 70,000 clients with a value of $79.1 million over the past years. The existing portfolio has reached $84.4 million, benefiting more than 135,000 customers. In addition, we launched the Aman Investment Fund with a daily return for individuals and investing companies in line with the group’s strategy, which generally seeks to expand financial inclusion and financial technology operations in the non-banking sector.”