Egypt’s MNT-Hala Targets $5 Billion Financing Portfolio by 2026 Amid Rate Cuts

Egyptian fintech firm MNT-Hala aims to boost its financing portfolio by approximately 40% to between $4.5 billion and $5 billion by the end of 2026. This follows an expected $3.5 billion by the close of the current year, driven by anticipated gradual interest rate reductions, according to Founder and CEO Mounir Nakhla.

Nakhla told Asharq that the targeted growth will concentrate on consumer finance and small and medium-sized enterprise (SME) lending. The company plans to expand its technology-driven financing solutions, anticipating increased credit demand as the Egyptian market enters a monetary easing cycle.

Founded in 2017, Hala operates in the fintech sector, providing digital solutions for financing, installments, and electronic payments to individuals and small businesses. It bypasses traditional banking procedures, specifically targeting underserved and unbanked segments.

Egypt’s interest rates have recently seen a cumulative reduction of 625 basis points since the beginning of the year, marking the first monetary easing cycle in about four and a half years. The overnight deposit, lending, and main operation rates at the Central Bank of Egypt currently stand at 21%, 22%, and 21.5% respectively.

Future Plans

Regarding a potential stock market listing, Nakhla stated the company is evaluating an IPO on a regional exchange within 12 to 18 months. “We are currently weighing several regional markets,” he added.

Hala also targets achieving “decacorn” status, with a valuation exceeding $10 billion, within five to seven years. Nakhla noted this trajectory relies on both organic growth and strategic acquisitions.

The Egyptian startup has raised nearly $678 million in total funding to date. This includes $157.5 million in July 2024, preceded by $400 million in February 2023, and approximately $120 million during a funding round in 2021.

Geographic Expansion

MNT-Hala expanded into three new markets last year: Pakistan, Turkey, and the UAE. The company aims to enter another Gulf market in 2026, with Saudi Arabia identified as a priority for future expansion, according to its CEO.

Investment Funds and Debt Issuances

In terms of investment activities, Nakhla explained that the real estate fund recently launched by the company is currently negotiating with major Egyptian real estate developers to add administrative buildings to its portfolio. The fund’s initial issuance has a capital of EGP 250 million, with a target total value of EGP 2 billion.

On the debt front, MNT-Hala executed issuances exceeding EGP 15 billion in 2025. The company is preparing to issue sukuk, securitized bonds, and green bonds valued between EGP 40 billion and EGP 50 billion next year, including EGP 9 billion in financing sukuk in early 2026. This represents more than a twofold increase year-on-year.

MNT-Hala built its operations on expanding access to digital financial services in Egypt, a country with over 108 million people. The Central Bank of Egypt recently announced that the financial inclusion rate surpassed 76%. The CBE’s monetary policy decisions have played a role in shaping the economic environment. The company currently serves over 8 million customers globally.