{"id":607350,"date":"2023-10-02T00:00:00","date_gmt":"2023-10-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/02\/valu-to-expand-into-jordan-puts-saudi-on-hold-for-now\/"},"modified":"2023-10-02T00:00:00","modified_gmt":"2023-10-02T00:00:00","slug":"valu-to-expand-into-jordan-puts-saudi-on-hold-for-now","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/02\/valu-to-expand-into-jordan-puts-saudi-on-hold-for-now\/","title":{"rendered":"Valu to expand into Jordan, puts Saudi on hold for now"},"content":{"rendered":"

Valu <\/strong> to enter Jordan next year, scraps Saudi expansion plans: <\/strong>Homegrown fintech platform Valu has announced plans to launch in Jordan by early 2024 under its expansion plan for the region, it said in a statement (pdf)<\/a> Sunday. Valu is currently in the process of applying for a license from the Central Bank of Jordan and expects to reach profitability within the first two years of launching.<\/p>\n

The details: <\/strong>Valu will invest USD 10 mn into expanding into Jordan, around USD 7 mn (JOR 5 mn) of which will go towards capitalizing its local unit, CEO Walid Hassouna told CNBC Arabia<\/a>. <\/p>\n

Hello Jordan, goodbye Saudi: <\/strong>Valu has excluded Saudi Arabia from its regional expansion plans due to market conditions and doubts over profitability, it said in the statement. Market conditions will not allow the company to \u201cflexibly\u201d roll out its financial services while the profitability projections fall outside of its strategy, it said.<\/p>\n

Regional growth is a priority for Valu<\/strong>, the Valu statement said, flagging that it is actively looking at markets in North Africa. The company is looking at markets \u201cwith favorable dynamics that allow for the implementation of its full product and services \u2026 flexibly.\u201d Valu is looking to reach profitability in expansion markets \u201cwithin 12-24 months of launching.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The fintech has shelved plans to expand in Saudi, citing problematic market conditions<\/p>\n","protected":false},"author":1,"featured_media":607351,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7323],"tags":[514,84,72,503,183,125,1033,595,219,515],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-607350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-consumer-finance","tag-efg-hermes","tag-enterpriseam","tag-financial-services","tag-fintech","tag-investment-watch","tag-jordan","tag-non-banking-financial-services","tag-saudi-arabia","tag-valu","wpautop","entry"],"acf":{"mongo_id":"60bc294d-afb5-45c1-8014-6b455c2c5cbd","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/103.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian fintech player Valu announces Jordan expansion, puts Saudi venture on hold for now","related_issue":[607335],"teaser":"The fintech has shelved plans to expand in Saudi, citing problematic market conditions","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.4f5d7709-0f51-4017-894b-61fb589217d6.mp3"},"yoast_head":"\nValu to expand into Jordan, puts Saudi on hold for now - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/02\/valu-to-expand-into-jordan-puts-saudi-on-hold-for-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Valu to expand into Jordan, puts Saudi on hold for now\" \/>\n<meta property=\"og:description\" content=\"The fintech has shelved plans to expand in Saudi, citing 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regional + product expansion: EFG Hermes\u2019 buy-now-pay-later platform valU expects to invest some USD 25 mn to complete its expansion to Saudi Arabia and roll out new products in early 2023, valU CEO Walid Hassouna told Zawya.REFRESHER- valU signed a sale and purchase\u2026","rel":"","context":"In "NON-BANKING FINANCIAL SERVICES"","block_context":{"text":"NON-BANKING FINANCIAL SERVICES","link":"https:\/\/enterpriseam.com\/egypt\/category\/non-banking-financial-services\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/355.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617410,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/21\/valu-plans-to-ipo-within-a-year-jordan-expansion-pushed-back\/","url_meta":{"origin":607350,"position":1},"title":"Valu plans to IPO within a year + Jordan expansion pushed back","author":"enterpriseam admin","date":"21 March 2024","format":false,"excerpt":"EFG Hermes will act as the financial 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The fintech platform is also looking at the Moroccan and Tunisian markets in cooperation with EFG Hermes\u2019 e-payments subsidiary\u2026","rel":"","context":"In "Finance"","block_context":{"text":"Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547051,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/07\/from-cairo-to-riyadh-valu-moves-into-saudi-in-partnership-with-alhokair-family\/","url_meta":{"origin":607350,"position":5},"title":"From Cairo to Riyadh: ValU moves into Saudi in partnership with Alhokair family","author":"enterpriseam admin","date":"7 June 2022","format":false,"excerpt":"valU enters Saudi Arabia: EFG Hermes\u2019 buy-now-pay-later platform valU is set to enter Saudi Arabia by acquiring a stake in new Saudi consumer finance player Fas Finance, the companies said in a joint statement (pdf) yesterday. Under the partnership, valU will purchase a 35% stake in the Shariah-compliant lender from\u2026","rel":"","context":"In "Fintech"","block_context":{"text":"Fintech","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/fintech\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/170.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=607350"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607350\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/607335"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/607351"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=607350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=607350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=607350"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=607350"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=607350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}