The offering was arranged by Commercial International Bank (CIB) and CI Capital, and fits within a broader three-year EGP 8 billion securitisation programme that has been approved by Egypt’s Financial Regulatory Authority (FRA).

Launched in 2018, MNT-Halan began with the ambition to bring digital financial services to underserved populations and reduce reliance on cash transactions.

Over time, it has built an integrated “super-app” offering small and microbusiness loans, consumer finance, payments, and e-commerce services.

To date, the company claims to have disbursed more than USD 11 billion in loans and to have served upwards of 8 million customers across its markets.

Earlier in the year, in May 2025, MNT-Halan completed a USD 49 million corporate bond issuance (equivalent to EGP 2.5 billion), marking one of its biggest debt transactions to date.

That deal, rated BBB+ by the Middle East Ratings and Investor Services (MERIS), consisted of two tranches: a 12-month and a 36-month facility.

The newly closed securitised bond issue was split into five tranches, with maturities ranging from six to 36 months.

By securitising its existing loan receivables, MNT-Halan can recycle capital—selling those receivables as bonds to investors—and then use the proceeds to originate fresh credit, without immediately diluting equity.

This latest move reinforces the company’s reliance on Egypt’s domestic capital markets as a steady source of funding, a trend accelerated by tighter global venture capital conditions.

In many respects, MNT-Halan is leading a shift among Egyptian fintechs toward using structured debt instruments rather than pure equity injections.

However, this model also places pressure on the quality of its loan portfolio and the broader credit environment: success depends on borrowers’ ability to repay and on overall stability in interest rates and investor sentiment.