AMAN Holding announces 2022 business milestones & future plans for 2023

AMAN Holding, the most integrated fintech group in Egypt, announced its financial results and business milestones of the full year 2022, as well as their future plans for the fintech and financing sectors.  The announcement came during a press conference held on Sunday 26th of February 23, in the presence of AMAN Holding’s CEOs, the media, and a number of c-suite and senior executives of the company.

Reinforcing its contribution to empowering all customer segments, AMAN Holding future plans aim to provide a more inclusive bundle of non-banking financial products, to promote financial inclusion and cashless economy in line with Egypt's Vision 2030.

During the press conference, Hazem Moghazy, CEO - Business & Commercial AMAN Holding, stated: “AMAN Holding has gained a lot of momentum throughout 2022, most notably, through increasing its capital and pumping immense investments over the year, last of which totaled EGP 90 mn.  This contributed significantly to expanding AMAN’s physical presence, technology and financial services portfolio, achieving various business milestones.”

“In 2022, We launched AMAN Securitization, successfully securitizing EGP 500 mn through it. We have also launched a savings service ‘AMAN Youm-B-Youm’ with a portfolio of over EGP 6 mn, closing the year on becoming one of first to introduce nano-finance and full-fledged Islamic finance in the Egyptian non-banking sector,” Moghazy explained.

During Q4 of 2022, AMAN Holding opened a specialized branch for Islamic finance, including financial services in accordance with Shari'ah Islamic law, which came with total investments of over EGP 60 mn, aiming to reach a portfolio of EGP45 million by the end of the 1st year.

Moghazy pointed out that these steps come in line with AMAN strategy, which focuses on offering non-banking financial services on a wider scale to support the unbanked and the hard-to-reach customer segments to achieve financial inclusion. He also stressed on the company's firm commitment to its customers and how it reflected on the volume of business, as AMAN gross transaction value (GTV) jumped to EGP 36 billion, witnessing nearly 50% growth rate compared to 2021.

On the AMAN Holding future plans, Moghazy said, “We aim to reach a total GTV of EGP 56 bn by the end of 2023, as well as expanding into new markets, including Saudi Arabia and Nigeria. We also plan to launch Aman prepaid card, a safe digital money circle service through our network, AMAN Accept service, AMAN Banking Agent service along with developing a B2B supply chain.”

For his part, Mohamed Wahby, CEO - Products & Technology AMAN Holding, said: “Our team is working consistently on improving our digital infrastructure to ensure the highest quality of fintech services while providing a seamless and safe user-experience.  At AMAN, we are keen on fostering a cashless society through helping merchants and consumers adopt financial technology solutions instead of cash in line with the state’s efforts.