Grace Ashiru
Egyptian fintech unicorn MNT-Halan, established in 2018, has secured EGP 3.4 billion (USD 71.4 million) through its seventh securitised bond issuance, underscoring its continued use of debt financing to support rapid lending expansion. The issuance, arranged by Commercial International Bank (CIB) and CI Capital, forms part of a three-year EGP 8 billion (USD 168 million) securitisation programme sanctioned by Egypt’s Financial Regulatory Authority.
The bonds were divided into five tranches with maturities spanning six to 36 months and received credit ratings from MERIS, offering investors greater flexibility. By securitising its loan receivables into tradable bonds, MNT-Halan has made this financing model its main growth driver, allowing continuous reinvestment into new loans without diluting equity. In May, the company had similarly raised USD 49 million through comparable public debt market instruments.
Initially launched as a ride-hailing app before transitioning into fintech, MNT-Halan has evolved into Egypt’s leading lender for the unbanked through its super app. While the latest deal reflects solid investor confidence, it also highlights the company’s reliance on a stable credit market.
