By: Mostafa Ibrahim

AMAN Holding, the most integrated fintech group in Egypt, has unveiled its robust 2023 financial results, showcasing impressive growth across its diverse portfolio. The announcement, made amidst a gathering of CEOs and senior company officials at a press conference, solidifies AMAN Holding's status as a key player in the financial sector.

AMAN Holding's 2023 financial statements reveal impressive figures, with annual revenues surpassing EGP 4.6 billion and a capital of 1.065 billion Egyptian pounds. The company's credit facilities also soared to EGP 9 billion, complemented by the issuance of three bond securitizations totaling EGP 2.5 billion throughout the year. These results underscore the efficacy of AMAN Holding's strategy in driving growth and advancement in non-bank financial solutions and electronic payments.

Commenting on the impressive financial results, Hazem Moghazy, CEO - Business & Commercial AMAN Holding, expressed his pride in the company's performance during the past year, characterizing it as a period of significant growth across all aspects. He emphasized AMAN Holding's steadfast dedication to innovation and the delivery of customer-centric solutions.

Moghazy revealed that AMAN’s microfinance operations experienced a 35% growth in 2023, with total financing reaching EGP 4.9 billion through 200 branches, including 40 newly established branches during the year.

This was due to the company forging several key partnerships with prominent financial institutions such as the Social Fund, Misr Insurance Company, Agricultural Bank of Egypt, Al Baraka Bank, QNB National Bank, and EG Bank to expand its services. Additionally, Islamic finance completed over 1,700 successful transactions valued at more than EGP 60 million through its 7 branches.

Moghazy also highlighted the remarkable growth of AMAN Holding’s consumer finance division, stating, "We are proud to announce a total issuance of EGP 4 billion, reflecting a 38% increase in our customer base, now totalling 229 branches nationwide." He emphasized the company's commitment to providing diverse instalment products, noting, "We are excited to announce our recent partnerships with over 500 merchants and brands, including Jumia, ElAraby, and Cairo Sales, as part of our commitment to expanding our offerings. Additionally, we are proud to be activating 'e-wallets' for prominent partners such as Etisalat and CIB within our branches, supporting financial inclusion and Egypt's Vision 2030 for a cashless economy."

For his part, Mohamed Wahby, CEO - Products & Technology AMAN Holding, emphasized the company's commitment to sustainable digital infrastructure development. "We aim to attract more merchants and consumers who mainly rely on cash for their daily transactions, encouraging them to embrace the concept of a cashless economy in line with the country's vision," stated Wahby.

"AMAN’s remarkable 32% growth in electronic payments, surpassing EGP 41 billion in transactions and completing 550 million transactions, underscores our unwavering dedication to delivering cutting-edge financial technology services and ensuring a seamless, secure user experience," declared Wahby, highlighting the company's commitment to excellence. "Furthermore, our financing of over 2,000 electronic payment merchants through nano finance demonstrates our relentless pursuit of integration and synergy across our operations."

Wahby also added that one of AMAN’s key achievements is the AMAN SuperApp, a comprehensive digital platform integrating the company's products & services. It includes electronic payments, instalment services, e-commerce, credit limit application, and financing. The app has garnered over 1.8 million downloads, marking a 180% increase in operations and surpassing half a billion Egyptian pounds in transaction value, a 250% increase from the previous year.

Looking ahead to 2024, AMAN Holding is committed to expanding its market share in Egypt and introducing new products and services. The company plans to establish AMAN Sukuk Company to drive financial inclusion and growth. Progress is expected, particularly with the acquisition of a digital bank license. AMAN Holding also aims to enter new markets like the on-going process of acquiring Saudi Arabia’s operation license.