One of Egypt’s most prominent financial technology companies, MNT-Halan, has stated its intention to open one hundred microfinance bank branches in Pakistan and invest $10 million by the end of the year. There is a huge possibility for expansion in Pakistan’s cash-heavy economy and among the country’s unbanked population, whom the firm intends to serve.
From its humble beginnings as a ride-hailing service in 2017, MNT-Halan has grown into a full-fledged financial platform. It now offers a wide range of services, including mobile wallets, debit and credit cards, and BNPL solutions. The company hopes to expand its reach further after purchasing Advans Pakistan Microfinance Bank Ltd. in 2024. Currently, it operates 19 branches across Sindh.
In a recent announcement, CEO Mounir Nakhla detailed the company’s plans for the next five years, including expanding its loan portfolio to $500 million and serving 200,000 clients. With cutting-edge methods like AI-powered credit evaluations, a financing app that prioritizes mobile use, and Shariah-compliant services for female entrepreneurs, MNT-Halan aims to formalize more of Pakistan’s informal interactions.
The company’s goal is to provide tech-enabled, efficient lending solutions across Pakistan through digital and physical expansion techniques. This would allow small enterprises and people to receive much-needed financial support.
