NBFS-

valU, Telda offer new redemption, installment services: EFG Holding’s BNPL platform valU and digital payment app Telda have partnered to enable the users of valU cashback service Sha2labaz to redeem the value of their purchases through the Telda app, according to a joint statement(pdf). Redeemed amounts can then be used to make online purchases, payments at brick-and-mortar stores, or ATM cash withdrawals, according to the statement.

It works both ways: “Telda purchases can be redeemed through Sha2labaz and be refinanced through valU’s installment plans of up to 60 months,” the statement reads. These installments can be paid directly through the valU app.

valU has a couple of financing plans in the pipeline: The company intends to securitize more of its portfolio within a month or two, head of Product Development Ahmed Seoudi reportedly told Hapi Journal, adding that the firm has not yet set an amount for the offering. The firm is also reportedly in talks with two banks to secure two new loans soon, Seoudi said at a press conference yesterday.

REMEMBER- ValU closed its fourth securitized bond issuance in March and hopes to launch a second securitization program worth EGP 5 bn later this year, CEO Walid Hassouna told us in January.

REAL ESTATE-

Tatweer Misr takes first step towards Saudi expansion: Tatweer Misr will establish a joint venture with the Saudi investment firm Naif Alrajhi Investment under a strategic partnership signed between the two sides yesterday. The JV will focus on construction and real estate investment in Saudi Arabia and will mark Tatweer’s first project outside Egypt.

CAPITAL MARKETS-

EGX futures clearing company receives FRA approval: The Financial Regulatory Authority (FRA) has granted the EGX the greenlight to launch the clearing company for its new futures exchange, Al Borsa reported yesterday, citing EGX boss Ramy El Dokany. The EGX has tapped Evolve Investment Holding CEO Sameh El Torgoman (LinkedIn) as company chairman.

REMEMBER- The FRA, EGX, and Misr for Central Clearing and Depository (MCDR) are aiming to launch the long-anticipated futures exchange by 4Q 2023. The FRA in March issued amendments to rules on the establishment of the company that will manage the new futures exchange and the new clearing company.

EDUCATION-

CIRA partners with Think Big and CEA to launch visual arts education program:CIRA Education is teaming up with Egypt-based Think Big Media Production, led by film director and founder, Rami Imam, and Canada-based the Center for Entertainment Arts (CEA), to offer accredited visual arts programs to students across a number of its campuses in both East and West Cairo, according to a press release (pdf) yesterday. The courses will cater to a wide range of students, from 12 years-old up to those pursuing university degrees.The program is expected to launch this summer with an estimated 150 students, CIRA Education CEO Mohamed El Kalla told Enterprise.

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