Aman For Financial Services Works On A Productive 2019 Plan
- A promising expansion plan in 2019 with a financial infusion of EGP700 million and 55 branches.
- With currently 130 stores, Aman For Financial Services plans to reach 300 stores by the end of 2019.
- Receiving a letter from the Egyptian Financial Supervisory Authority, Aman has become the very first microfinancing company to be compatible with the EFSA regulations.
- Aman injected about EGP150 million into 15.000 microfinance projects with only 0.5% late repayment in 2018.
- Providing 35.000 cash machines across the country, Aman is planning to launch an electronic application and a website.
- After selling 100 cars with installment services, Aman is planning to be present at large car showrooms.
- Aman is partnering with Omar Effendi chain of stores and Egypt's primary telephone company “WE”.
- Aman is expanding its installment services to Home Furnishing field.
The CEO of Aman For Financial Services, Hazem Moghazi, revealed the company’s ambitious future plan to expand in the local market. He mentioned that with currently 130 stores, the company plans to expand to 300 Aman stores by the end of 2019.
“After receiving a letter from the Egyptian Financial Supervisory Authority to reconcile its positions, Aman has become the very first company to be compatible with the EFSA regulations,” Moghazi pointed out.
In 2019, Aman aims for financial infusion reaching EGP700 million with a growth rate 10 times the funds injected in 2018. Thus, the company is looking forward to the EFSA approval on Microfinance disbursement through the ATMs. "Hence, Aman is negotiating with several banks to make an electronic card available to the company's clients," Moghazi said.
“The company has injected about EGP150 million into 15.000 microfinance projects with an average of EGP10.000 for each,” Moghazi mentioned. Moreover, he pointed out that the percentage of late clients in terms of repayment reached 0.5% of the total funding injected in 2018.
Furthermore, Aman has provided its customers with installment payment service through 35.000 Aman cash machines spread across the country. “The company is seeking to launch an electronic application to provide installment services and a website," Moghazi revealed.
He added that Aman succeeded in partnering with Omar Effendi chain of stores and Egypt's primary telephone company “WE” to use Aman installment services. Those e-payment solutions are now activating in 10 branches of Omar Effendi and 25 of WE’s.
Aman started providing car installment services which helped closing deals of 100 cars within less than six months. “The clients can pay the installment at any time throughout the week through Aman electronic payment machines,” Moghazi noted.
Moreover, following its promising agreements with some big names in home furnishing field like kabbani and Abdelrehim Amr Group, Aman is looking forward to expanding its furniture installment services through cooperation with several furniture exhibitions across the country.