• Thursday, 18 August 2022

    valU closes its second securitized bond issuance

    valU just closed its second securitized bond issuance in less than a year: EFG Hermes’ consumer finance arm valU has issued EGP 532.6 mn of securitized bonds, according to a statement (pdf) by our friends at EFG Hermes.About the issuance:...
  • Thursday, 4 August 2022

    EFG Hermes appoints new NBFI CEO

    EFG Hermes’ NBFI business gets a new boss: Our old friend Aladdin ElAfifi (LinkedIn) has been appointed CEO of EFG Hermes’ non-bank financial institutions (NBFI) platform, succeeding Walid Hassouna (who is now running the group’s high-profile valU unit full time),...
  • Monday, 1 August 2022

    THIS MORNING: Ukrainian wheat exports could start today; “No backsliding” on global climate targets, says Shoukry

    Good morning, nice people, and welcome to the month of August. It feels a bit as if the volume of news is slowing (as is traditionalf or the first two weeks of August), but we nonetheless have a meaty issue...
  • Tuesday, 26 July 2022

    valU gets Walid Hassouna’s full attention

    valU has Walid Hassouna’s full attention: Walid Hassouna is leaving his position as CEO of EFG Hermes’ Non-Bank Financial Institutions (NBFI) platform to dedicate himself full-time to his role as CEO of its buy-now-pay-later (BNPL) platform valU, according to a...
  • Monday, 4 July 2022

    NBFS players are taking on the burden of education financing

    How alternative lending solutions could address demand for tuition financing: Parents looking to put their children through private schooling at the K-12 stage continue to face higher costs, as rising inflation rates push schools to raise their tuition fees. But...
  • Monday, 4 July 2022

    valU’s BNPL services are now available on Amazon Egypt

    EFG Hermes’ subsidiary valU’s buy-now-pay-later installment plans are now available to customers of Amazon Egypt, according to a joint statement (pdf) out yesterday.Amazon could soon be a valU shareholder: Amazon has the option of acquiring a 4.3% equity stake in...
  • Tuesday, 28 June 2022

    Penalties on farmers meant to boost the local harvest might get tweaked

    The government has formed a committee to reconsider some of the penalties it imposed this harvest season on wheat farmers who fail to sell the required grain quotas to the state, Al Borsa reports, citing comments by Supply Minister Ali...
  • Tuesday, 21 June 2022

    KSA’s Alhokair family agrees to acquire 4.99% of valU

    valU welcomes new minority Saudi owners: The Alhokair family looks set to acquire a 4.99% stake in EFG Hermes’ buy-now-pay-later platform valU, according to a statement (pdf) out yesterday. Brothers Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair, and Abdul Majeed Abdulaziz...
  • Tuesday, 7 June 2022

    From Cairo to Riyadh: ValU moves into Saudi in partnership with Alhokair family

    valU enters Saudi Arabia: EFG Hermes’ buy-now-pay-later platform valU is set to enter Saudi Arabia by acquiring a stake in new Saudi consumer finance player Fas Finance, the companies said in a joint statement (pdf) yesterday. Under the partnership, valU...

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