Egyptian fintech group MNT-Halan is in advanced discussions with investment banks for an initial public offering, a move that could see its valuation approach $1 billion, according to a report from WORLDEF. The Cairo-based company, which operates a digital lender and payments platform, is considering a dual listing on both the Egyptian Exchange and a major international bourse, potentially in the first half of 2026.
The company has reportedly engaged with several global and regional financial institutions to advise on the offering. An IPO would mark a significant milestone for MNT-Halan, which was founded in 2018 and achieved unicorn status in 2023 following a substantial funding round. The company's ecosystem spans digital lending, payments, ride-hailing, and logistics, serving millions of customers and merchants across Egypt.
The potential listing comes as Egypt's financial technology sector experiences rapid growth, driven by a large unbanked population and increasing smartphone penetration. The Central Bank of Egypt has actively supported digital transformation through regulatory initiatives, including the launch of a national instant payment network and the licensing of digital banks. This environment has fostered a competitive landscape where fintech firms vie to expand financial inclusion.
MNT-Halan's IPO preparations coincide with other strategic developments in Egypt's fintech market. Separately, local investment platform Bokra and Saudi payments firm Geidea announced a partnership to offer Sharia-compliant digital savings products to over 200,000 merchants in Egypt, according to a report by Techno Time. This initiative aims to provide merchants with access to investment opportunities that comply with Islamic financial principles, though it is not directly related to MNT-Halan's operations.
For MNT-Halan, a successful public offering would provide capital to deepen its penetration in the Egyptian market and potentially fund regional expansion. The company's journey from a micro-lending and transportation startup to a diversified fintech unicorn reflects a broader trend of digital financial services consolidation in Africa. Market observers note that an IPO of this scale would be closely watched as a bellwether for investor appetite in African tech listings, following a period of subdued activity in global markets.
The final decision on the timing and venue of the offering will depend on market conditions and regulatory approvals. If it proceeds, the listing would be one of the most significant for an African fintech company, providing a public valuation benchmark for a sector that has attracted billions of dollars in private investment over the past decade.