Egypt: Valu to enter Jordanian market in early 2024

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Egypt - Valu, a leading financial technology company in MENA, announced its plan to launch its services in Jordan in early 2024 as part of its strategic expansion in the region.

The company has conducted a thorough assessment and is considering entering other markets in North Africa as well.

This assessment reflects Valu’s commitment to establishing a strong market presence and aligns with its business strategy, which focuses on targeting markets with favourable dynamics that allow for the flexible implementation of its full range of products and services and that ensure profitability within 12-24 months of launching.

Valu’s entry into Jordan comes after extensive preparation and in-depth market research and is currently in an advanced stage. Valu aims to leverage its expertise in financial technology to provide innovative and value-driven solutions to both consumers and merchants in Jordan. Valu has taken the necessary steps to apply for a licence from the Central Bank of Jordan soon. The company has carefully examined the market conditions and hired high-performing professionals, including the firm’s CEO, who has already joined the team and has a wealth of experience in the financial technology sector and a deep understanding of the local market. Valu believes that this will help achieve effective and successful results in the region. Valu has also secured partnerships with several key merchants in Jordan over the past 18 months, demonstrating the strong demand for its cutting-edge and proven suite of financial technology solutions. These strategic partnerships will serve as the basis for Valu’s local growth and consolidation.

On the other hand, Valu has decided to exclude the Saudi Arabian market from its expansion plan. This decision is based on the recognition that the current conditions in the market do not allow for the smooth and flexible implementation of its full suite of financial solutions. Moreover, the projected profitability timeline for the market does not match Valu’s profitability strategy or expansion plans, which was concluded after studying the Saudi market for the past 15 months. Valu remains dedicated to sustaining its rapid growth and momentum in the MENA region and other markets, acknowledging the vital importance of agility for long-term success in a dynamic business environment.

Walid Hassouna, CEO of Valu, expressed his excitement about the company’s entry into the Jordanian market, saying, “We are delighted to bring Valu’s innovative solutions to Jordan. The decision to expand into Jordan fits perfectly with our strategy of prioritizing markets with plug-and-play market dynamics. With our experienced team and strong partnerships with local merchants, we are confident in our ability to deliver unparalleled value and reshape the financial technology landscape in Jordan.”

Hassouna added: “At Valu, we take great pride in our visionary mindset, making decisions with a forward-thinking approach that sets us apart. We are constantly setting the curve and revolutionizing the financial technology industry, one step at a time. Our unwavering commitment to innovation and pushing boundaries drives us to create transformative solutions that empower individuals and businesses. Valu’s unwavering commitment to profitability has yielded impressive results over the past four years, and we intend to maintain this trajectory moving forward.”

Valu’s entry into the Jordanian market is a significant step forward in solidifying the company’s leading position as the universal financial technology powerhouse in the MENA region. By extending its footprint into Jordan, Valu is building upon its already established position in its home market, and this step will further strengthen its regional presence. Through leveraging its unparalleled expertise, Valu is well-positioned to drive economic growth, foster financial inclusion, and empower individuals and businesses in Jordan.