Investors include the European Investment Bank, the International Finance Corporation and the Arab Bank.
CAIRO, Feb 1(Reuters) – Egyptian microfinance lending and payments company MNT-Halan is securing $400 million in new equity and finance, bringing its valuation to more than $1 billion, the company said in a statement on Wednesday.
The investments include an equity stake of at least 20% of MNT-Halan worth more than $200 million taken by private equity firm Chimera Abu Dhabi. Another $60 million in primary capital is being secured from international investors, the statement said.
EIB, IFC and Arab Bank are some of the most notable investors in this round of funding.
- UK Finance Ministry Tightens Grip on Crypto: Draft Rules for Regulation Released
- Australia Ditches British Monarchy: Bank Notes Get a New Look
- Maximizing Your Crypto Gains: A Guide to Tax Deductible Crypto Losses
- ChatGPT Boosts Real Estate: Agents Adopt AI for Listing Writing
- Is the stock market open on Monday for MLK Day 2023?