Raya’s microfinance arm Aman in negotiations eyes EGP 500 mn in loans from five banks

Raya Holding’s microfinance subsidiary Aman is seeking to borrow EGP 500 mn from CIB, Suez Canal Bank, Attijariwafa Bank, Blom Bank Egypt, and United Bank, Chief Financial Officer Ayman Bassiouny told Mubasher. The company hopes to borrow EGP 100 mn from each bank, having already obtained EGP 500 mn in loans from seven banks in 1H2019. Aman said last week that it was seeking to borrow a further EGP 500 mn this year to finance SMEs.