Cairo – Aman Electronic Payment Technology, a subsidiary of Raya Holding for Financial Investments, has secured EGP 2 billion in funding from several Egyptian banks during 2021, the CEO Hazem Moghazy said.

On the sidelines of a seminar entitled “Digital Transformation and the Future of E-Commerce” held on Tuesday, Moghazy said that Aman obtained EGP 150 million from the Micro, Small and Medium Enterprises Development Agency (MSMEDA) and has started injecting the funding to customers.

The CEO noted that banks started to provide micro and small enterprises with digital loans which will help expand the customer base and accelerate the process of lending.

Aman currently deals with 16 local banks, primarily the National Bank of Egypt (NBE), Banque Misr, Banque du Caire, and the Commercial International Bank-Egypt (CIB).

Back in April, Raya Holding for Financial Investments sold 9 million shares of its 99.8%-owned subsidiary Aman Electronic Payment Technology to the NBE. Under the deal, the bank acquired 24% of Aman for EGP 480 million.

Source: Mubasher

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