MNT-Halan wants to go global: Fintech leader MNT-Halan wants to expand its footprint across the globe to become a global player. It has an expansion plan that will see it acquire entities across a number of markets, including Saudi Arabia, as well as east Africa and South Africa, founder and CEO Mounir Nakhla said during an event that Enterprise attended.

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Already underway: The company, last week, announced that it fully acquired Turkish commercial finance company Tam Finans and will likely announce another acquisition within the coming 12-18 months, Nakhla added.

The details of the transaction: The firm financed the acquisition through its recently-raised funds. 

The acquisition boosted MNT-Halan’s portfolio: The company’s loan book is estimated to be at around USD 900 mn following the acquisition, with Tam Finans accounting for a third of the amount. MNT-Halan’s monthly lending volume stands at around EGP 2.5 bn, and is expected to rise to EGP 3-3.5 bn by the end of the year, Nakhla added.

ICYMI: MNT-Halan recently raised USD 157.7 mn in a funding round expected to bankroll the country’s international expansion plans. “While Egypt remains our primary market, we are committed to revolutionizing access to financial services through technology beyond Egypt’s borders,” Nakhla said at the time.

What’s next? MNT-Halan is considering a number of different avenues to expand its operations in the coming period, including going public and transforming into a digital bank that operates locally, Nakhla said.

The company has ambitious growth targets: It wants to achieve an annual growth rate of up to 50% in the local market and 70% in the medium-term. The company plans to have SME lending make up almost half of its portfolio by the end of 2025, up from its current 20%.

Also in the pipeline: More securitization and cybersecurity. The fintech leader wants to raise EGP 24 bn from securitized bonds issuances this year — it has already raised half that amount during the first half of the year, Nakhla said. The company is focused on investing in cybersecurity due to the recent wave of cyberattacks.

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