Egypt's MNT-Halan Expands into Turkey with Strategic Acquisition of Tam Finans

Introduction

Egyptian fintech company MNT-Halan has made a significant move into the Turkish market by acquiring Tam Finans, a leading commercial finance company. This acquisition, which boasts a loan book exceeding US$300 million, marks a pivotal step in MNT-Halan's expansion strategy.

MNT-Halan

Founded in 2018, MNT-Halan was established with the mission to digitally bank the unbanked and replace cash transactions with electronic solutions. The company aims to foster financial inclusion by providing accessible and innovative financial services.

The Digital Ecosystem

MNT-Halan's digital ecosystem encompasses a wide range of services including small and micro-business lending, consumer finance, pre-paid cards, e-wallets, savings, payments, and e-commerce. With over 2.2 million quarterly active users, MNT-Halan has disbursed over US$4.4 billion in loans and served more than seven million customers in Egypt.

Strategic Acquisition of Tam Finans

The acquisition of Tam Finans in Turkey allows MNT-Halan to extend its innovative financial services to millions of businesses and consumers in the region. MNT-Halan's founder and CEO, Mounir Nakhla, stated, "Combining Tam Finans’ credit models, distribution capabilities, and management team with MNT-Halan’s technology, customer-facing app, and financial muscle will help complete the product offering and give greater confidence to all its stakeholders."

Shared Vision and Future Prospects

Nakhla further emphasized the historical and cultural ties between Turkey and Egypt, noting, “Turkey and Egypt’s histories and cultures have been intertwined for hundreds of years and their current economic outlook points to a bright future that we are ready to capitalize on.”

Expansion and Innovation

The acquisition not only signifies MNT-Halan's commitment to expanding its footprint but also highlights its dedication to innovation in financial services. By leveraging the strengths of both companies, MNT-Halan aims to provide comprehensive and technologically advanced financial solutions to a broader market.

Building on Success

With a proven track record in Egypt, MNT-Halan is well-positioned to replicate its success in Turkey. The strategic integration of Tam Finans' local expertise and MNT-Halan's technological prowess is expected to drive growth and enhance financial inclusion in the Turkish market.