MNT-Halan to accelerate lending and payments industries in Egypt

This follows the recent consolidation of 100% of the shares of Raseedy, the first independent and interoperable digital wallet in Egypt

  
Woman holding credit card while using mobile phone for online shopping on table. Image used for illustrative purpose.

Woman holding credit card while using mobile phone for online shopping on table. Image used for illustrative purpose.

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ArabFinance: MNT BV, a Netherlands corporation, announced that it entered into a share swap agreement with Halan Inc., a Delaware corporation and Egypt’s super app, according to MNT BV statement released on June 24th.

This follows the recent consolidation of 100% of the shares of Raseedy, the first independent and interoperable digital wallet in Egypt licensed by the Central Bank of Egypt.

This transaction will serve to accelerate the digitization of the lending and payments industries in Egypt and its surrounding region. The terms of both transactions were not disclosed.

MNT BVis a subsidiary of Ghabbour Auto (GB Auto).

GB Auto acquired the sole distributorship of Changan, the leading Chinese global automotive brand, in Egypt.

The Egypt-based automotive company's main activities include trading, distributing, and marketing of all transportation means, including heavy trucks, semi-trucks, passenger cars, buses, agriculture tractors, and pick-ups.

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