The Clap
Aman Microfinance, a subsidiary of Raya Holding (RAYA), is looking to pump EGP 500 million into SMEs.
The Deets
The company aims to pump EGP 3.6 billion by the end of 2022, with EGP 500 million dedicated specifically for SMEs.
In H1 of the previous year, Aman had invested EGP 1.7 billion in the market, with EGP 150 million dedicated to SMEs.
In addition to that, they aim to be listed on the stock exchange during 2023. This, however, depends on the current market conditions improving.
In addition to that, Aman is looking to expand consumer finance into KSA before the end of 2022. Following that, they intend to get into Nigeria.
Who is Aman?
Aman is a subsidiary of Raya Holding. They were founded in 2018 and specialize in microfinancing of SMEs in Egypt. Most recently they have established an investment fund that targets people who are not included in the banking sector.
Aman backing SMEs in Egypt even further as they plan on IPO 💪
