Egypt’s MNT-Halan Secures $71.4 Million in Latest Securitised Bond Deal

Egypt’s leading fintech unicorn, MNT-Halan, has raised EGP 3.4 billion (around US$71.4 million) through its seventh securitised bond issuance, marking another milestone in its expansion through Egypt’s growing debt capital market.

The transaction is part of the company’s EGP 8 billion (US$168 million) three-year securitisation programme approved by Egypt’s Financial Regulatory Authority (FRA). Structured and arranged by the Commercial International Bank (CIB) and CI Capital, the bond issuance was divided into five tranches with maturities ranging from 6 to 36 months.

Strengthening Egypt’s Fintech Debt Market

For MNT-Halan, this latest issuance underscores its ability to diversify funding beyond traditional equity rounds. The fintech has rapidly evolved from a high-growth lending platform into one of Egypt’s most prominent non-bank financial institutions, serving over 8 million customers and disbursing more than US$11 billion in loans to date.

By converting loan receivables into tradable securities, the company can free up liquidity to fund more loans while maintaining a sustainable balance sheet. This move allows MNT-Halan to keep scaling its micro and SME lending portfolio without relying entirely on venture capital, a model that has become increasingly attractive in Egypt’s tightening funding environment.

A Broader Signal for Egypt’s Fintech Ecosystem

The success of MNT-Halan’s securitisation strategy points to a maturing fintech ecosystem in Egypt, one that is beginning to leverage the domestic capital market more strategically. The FRA’s approval of an EGP 8 billion securitisation programme indicates growing regulatory support for alternative financing structures among non-bank lenders.

This also signals a shift in investor confidence, showing that fintech credit portfolios, once seen as too risky or informal, are now being recognised as viable financial assets. For Egypt, it represents a positive step toward expanding access to credit for small businesses and underserved consumers, while deepening local debt markets.

Opportunities and Underlying Risks

Still, the model carries certain risks. Securitisation transfers credit exposure from MNT-Halan’s balance sheet to investors, but the underlying performance of those loans remains critical. Rising inflation, currency pressures, or deteriorating loan quality could challenge the returns on these securities.

There’s also the question of refinancing risk. With tranches maturing between 6 and 36 months, the company will need continued investor confidence to maintain liquidity and manage future rollovers.

Yet, for now, the market response remains positive. Institutional investors continue to view MNT-Halan’s bond issuances as a well-structured and attractive opportunity, signaling sustained trust in both the fintech’s loan portfolio and Egypt’s regulatory framework.

What This Means for Africa’s Fintech Future

MNT-Halan’s move reflects a broader trend among African fintechs shifting from equity-heavy models to structured debt solutions. As venture funding cools globally, securitisation is emerging as a pragmatic path for scaling credit-based businesses.

If executed carefully, this approach could become a blueprint for African fintechs looking to balance growth with financial discipline. For MNT-Halan, it’s another step toward solidifying its reputation as one of the continent’s most sophisticated financial innovators.