Commercial International Bank Egypt has entered into an investment agreement to buy shares in the offering of MNT Tech Holding for Financial Investments, the parent of fintech unicorn MNT-Halan, committing up to EGP2bn ($37.34mn), the bank said.
The agreement, dated 24 September 2026, was signed with MNT Tech Holding for Financial Investments SAE and MNT Investments BV. Under its terms, CIB will purchase shares within the international offering that forms part of MNT-Halan’s share offering and listing on the Egyptian Exchange, according to the offering documents published by MNT-Halan.
The number of shares CIB will acquire and the size of the stake it will hold were not disclosed. Both will depend on the final offer price, which has not been made public. At the $1.4bn valuation MNT-Halan announced in June, $37.34mn would imply a stake of roughly 2.7 per cent, though the IPO valuation may differ and no final figure has been confirmed.
The commitment is the latest step in MNT-Halan’s path to a public listing. The EGX Listing Committee approved a temporary listing for MNT Tech Holding on 14 September 2026, with the shares added to the exchange’s database under the non-banking financial services sector from 15 September. The company has six months from the date of temporary listing to complete its offering and meet the conditions for final listing. Its shares will not trade until the offering is completed, except with approval from the Financial Regulatory Authority. If the company fails to complete the process within the six-month window, the temporary listing is treated as never having existed.
MNT Tech Holding has an issued capital of EGP160mn, divided into 1.6bn shares with a par value of EGP0.10 each. If it completes the process, the listing would rank among the largest technology-related flotations on the Egyptian bourse.
A long-standing banking partner
Amr El Ganainy, executive vice-president and executive board member of CIB, said the bank’s participation reflected its role in supporting Egypt’s non-banking financial sector, which he described as one of the most important sources of financing in the Egyptian economy alongside the banking sector. He said there was a need to support the diversification of financing tools in the Egyptian market, particularly newer instruments based on financial technology and digital applications.
Mounir Nakhla, founder, chief executive and managing director of MNT-Halan, said CIB had been part of the company’s journey for many years and was now joining as a shareholder.
“CIB has exceptional knowledge of this market, and its vision and experience will be of great value to us as we build the next phase of MNT-Halan’s journey,” Nakhla said. “Our relationship with CIB spans more than 15 years; it believed in us from the beginning, and its support for the non-banking financial services sector has been instrumental in the growth of the entire sector.”
CIB is Egypt’s largest private-sector bank by assets. Its decision to take an equity position in MNT-Halan through the offering follows the June 2026 capital increase at the fintech group led by Al Ahly Capital, the private equity arm of the state-owned National Bank of Egypt. That transaction raised MNT-Halan’s valuation to $1.4bn and marked the first time a commercial bank had taken an equity stake in the company, according to Nakhla.
Background to the listing
MNT-Halan was founded in 2018 as a two- and three-wheeler ride-hailing app and has since expanded into consumer finance, micro-enterprise loans, payments, savings, investments, e-commerce and logistics. The company says it has disbursed more than $15.5bn in loans since inception and serves over 8mn customers globally. It reached unicorn status in 2023 after securing a $400mn equity and debt financing round at a $1bn valuation, and has since expanded into Türkiye and Pakistan, launching operations in the United Arab Emirates in 2024.
A statement issued by the group said MNT-Halan held 24.3 per cent of Egypt’s microfinance market and 14 per cent of the consumer finance market at the end of December 2025. The figures were provided by the company and have not been independently verified.
The group’s lending model is capital-intensive and relies on a steady inflow of funding to sustain loan-book growth. It has increasingly used securitisation — bundling existing loan receivables and selling them to investors as yield-bearing bonds — as a primary funding mechanism. In April 2026, Hala Consumer Finance, the group’s consumer lending arm, completed an EGP2.214bn ($41.3mn) securitisation issuance, the fifth tranche under Capital Securitisation’s seventh programme.
Conditional process
CIB’s commitment is subject to the terms and conditions set out in the main investment agreement and the offering documents. The offering itself remains subject to final regulatory approval, and the listing committee’s approval of the temporary listing does not guarantee that the offering will proceed or that the shares will begin trading.
Whether the offering replicates the momentum seen in recent Egyptian technology listings will depend on market conditions, the final offer price and the company’s ability to manage credit risks in its lending portfolio.