CAIRO (The Southern African Times) – Egypt-based microfinance lending and payments company MNT-Halan has received an investment of USD 120 million.
MNT-Halan has more than four million customers in Egypt and has disbursed more than USD 1.7 billion in loans, the investors told Reuters.
The investment was completed in August 2021, said company officials. MNT-Halan was Egypt’s first private non-bank company to be licensed by the central bank to operate a digital wallet, a mobile app that lets consumers, vendors, lenders, and borrowers transfer money, pay bills, buy goods on instalment, and secure loans, the company told Reuters in June 2021.Other investors in MNT-Halan include Cairo-based Lorax Capital Partners, and Middle Eastern venture capitalists Algebra Ventures, DisrupTech, Endeavor Catalyst, Egypt Ventures, MEVP and Wamda.
