Including 25 branches nationwide, the first government cooperation between AMAN for Financial Services and El Maharees and Engineering Company to install products and facilitate electronic payments

05 May 2020

In continuation of its expansion and spread in all governorates, AMAN for Financial Services, one of the subsidiaries of the Raya Holding Group for Financial Investments, signed a cooperation protocol with El Maharees and Engineering Company, one of the subsidiaries of the Holding Company for Chemical Industries, which is one of the long-standing companies providing agricultural tractors and some machine to the Egyptian market from abroad.

The cooperation protocol was signed by Engineer Mohamed Hassanein Radwan, Chairman of the Board of Directors of El Maharees and Engineering Company and Engineer Hazem Moghazi, CEO of AMAN for Financial Services.   

This cooperation aims to provide AMAN for Financial Services with installments for the products of El Maharees Company and the implementation of electronic payment processes with it in all 250 branches of AMAN that are spread in governorates nationwide. On the other hand, the company will sell AMAN products which range from electronics, mobile phones and other complementary products within 5 branches of the company. It is expected that the experience will be generalized in all branches in addition to the implementation of electronic payment operations in all branches of the company that are spread in governorates nationwide.

The signing comes within the framework of the Ministry of Public Business Sector’s strategy to stimulate marketing with the aim of achieving economic and commercial efficiency for its subsidiaries by establishing a central unit for marketing and business development in the holding companies to enhance them in the subsidiaries in order to maximize revenues and improve marketing.

Commenting on this cooperation, Hazem Moghazi, CEO of AMAN for Financial Services, affirmed his happiness with the confidence granted by El Maharees Company, as this cooperation is the first governmental cooperation between AMAN and a governmental company. AMAN seeks, through this joint cooperation, to provide all the needs of El Maharees Company’s clients. Through 250 branches of AMAN, they provide installment services and payment of bills targeting thousands of customers, indicating that this new cooperation will maximize AMAN’s investment portfolio and open new areas for installments in a way that will achieve AMAN’s vision. This vision is in line with the vision of the Egyptian state towards achieving financial inclusion of citizens.

Moghazi added that this cooperation helps to stimulate sales in addition to reducing the burden of the company’s customers by providing financing services and attracting a larger segment of customers that depend entirely on installments to provide home appliances.

It is worth noting that AMAN is one of the Raya Holding subsidiaries, established in 2016, with the aim of achieving the vision of financial inclusion through three companies: AMAN for E-Payments, AMAN for Financial Services and AMAN for Microfinance. The group aims to provide appropriate, fast and diversified financial solutions for individuals who do not have the ability obtaining banking services or those who have limited opportunities to obtain financing, with the help of advanced technological solutions.

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