Egyptian automotive and financial services conglomerate GB Corp will retain a 41.61 per cent controlling stake in MNT-Halan following a strategic capital increase led by Al Ahly Capital Holding, according to corporate documents seen by Launch Base Africa. Formerly known as GB Auto, GB Corp is Egypt’s largest publicly listed automotive and non-bank financial services conglomerate.
The transaction, which marks the first closing of an ongoing growth funding round, adjusts GB Corp’s equity holding down from 42.58 per cent prior to the deal. Despite the minor dilution, the Cairo-listed group (GBCO.CA) remains the anchor institutional shareholder in North Africa’s most valuable tech business.
The strategic investment was led by Al Ahly Capital Holding, the private equity arm of the National Bank of Egypt (NBE). The deal raised MNT-Halan’s valuation to $1.4bn, up from the $1bn figure achieved during its $400m equity and debt round in early 2023.
The transaction represents the first instance of a Egyptian state-owned commercial bank taking a direct equity stake in a digital lending platform. NBE is Egypt’s largest lender by assets, controlling a 38.3 per cent market share of banking assets and 43.1 per cent of total loans in the country.
Mounir Nakhla, founder and chairman of MNT-Halan, described the entrance of a national banking partner as a “very important milestone” in the company’s development. Karim Saadé, chief executive of Al Ahly Capital, stated that the investment reflected institutional confidence in the fintech’s regional expansion strategy and management performance.
Proceeds from the round are slated to fund domestic market expansion within Egypt and bolster international operations. Since its founding in 2018 as a two- and three-wheeler ride-hailing platform, MNT-Halan has expanded into consumer lending, microfinance, e-wallets, e-commerce, and merchant payments. The group reports serving more than 8m customers globally, with over $15.5bn in loan disbursements completed to date.
Beyond domestic growth, the company has broadened its geographical footprint through acquisitions and licences in Pakistan, Türkiye, and the United Arab Emirates, with plans to expand further into Gulf Cooperation Council (GCC) markets.
MNT-Halan’s capital-intensive lending model relies heavily on securitisation structures to fund loan book growth independently of international venture cycles. In April 2026, its consumer lending division, Hala Consumer Finance, closed a EGP 2.214bn ($41.3m) securitisation issuance — the fifth tranche under an EGP 11.5bn program approved by Egypt’s Financial Regulatory Authority.
The equity recalibration comes as MNT-Halan prepares for a potential public exit. On September 8, 2026, parent entity MNT Tech Holding for Financial Investments submitted a formal application to list its entire issued capital of EGP 160m — divided into 1.6bn shares — on the main market of the Egyptian Exchange (EGX).
If approved by regulators, the flotation would rank among the largest tech listings on the Cairo bourse and provide a primary liquidity window for early backers, while leaving GB Corp positioned as the dominant corporate entity overseeing its ongoing operation.