Hermes’ ValU to launch new installment scheme for Swvl drivers soon

EFG Hermes’ ValU, which offers payment-on-installment solutions via a mobile app, is cooperating with mass transit app Swvl to soon provide installment plans for drivers to purchase vehicles under a new scheme endorsed by the Investment Ministry, EFG Hermes Finance CEO Walid Hassouna told Al Mal. An agreement between the two sides is expected to be signed in the first week of December, Hassouna said. Hermes’ ValU platform earlier this yearsigned a similar agreement with Uber in cooperation with the Arab Investment Bank (AIB).