MNT-Halan Plans IPO on Egyptian Exchange

Egyptian fintech unicorn MNT-Halan is preparing to list 20 percent of its shares on the Egyptian Stock Exchange. The company, founded in 2018, was valued at $1.4 billion after its latest funding round in June. This initial public offering (IPO) is expected to be completed this month, subject to market conditions and regulatory approvals.

MNT-Halan plans to offer 320 million ordinary shares, representing one-fifth of its issued share capital. This will be achieved through a combination of a public offering in Egypt and a private placement to institutional investors. The company will also seek approval to sell approximately 24.3 million shares to senior employees. Its business model has been built largely through private capital, debt financing, and expansion into financial services for underserved consumers and businesses, including acquisitions in Pakistan and Turkey.

Since its inception, MNT-Halan has disbursed about 178 billion Egyptian pounds, equivalent to $6.1 billion, in loans. As of the end of June, the company reported approximately 1.9 million active customers. Its gross loan book stood at 46.7 billion Egyptian pounds during the same period.

The IPO offers public-market investors exposure to Egypt’s growing digital finance market and a fintech business building a regional financial-services footprint. For MNT-Halan, the listing provides deeper access to capital and a route to liquidity for existing shareholders. For Egypt, it adds a fast-growing technology company to the public market, aiming to attract more investment and strengthen the country’s capital markets. This move could also serve as an important public-market test for valuing Africa’s privately built fintech businesses.

Mounir Nakhla, MNT-Halan's chief executive officer, highlighted improvements in Egypt’s economy and capital markets that have enhanced the country’s appeal to foreign investors. African fintech companies are now facing a new funding cycle phase, requiring them to demonstrate sustainable growth and clearer routes to liquidity. This offering is therefore not just a share sale but a significant test of whether Africa’s fintech unicorn model can successfully transition from private valuation to public-market price discovery.