MNT-Halan could become Egypt’s next major fintech listing

Egyptian fintech unicorn MNT-Halan is reportedly considering an initial public offering (IPO) on the Egyptian Exchange (EGX). This is a move that could add momentum to Egypt’s growing IPO pipeline and spotlight investor appetite for fintech companies.

According to Bloomberg, MNT-Halan is working with Citigroup Inc. and EFG Hermes on the potential transaction and has held preliminary meetings with investors. The new giant also reports that if completed, the transaction could take place as early as this year. It could also value the business at between USD 900 million and USD 1 billion.

Why You Should Care

A successful MNT-Halan listing would mark one of the most significant fintech IPOs in Egypt in recent years. It would also provide investors with another opportunity to gain exposure to the country’s expanding digital financial services sector, which continues to benefit from rising financial inclusion and growing demand for alternative lending and payments solutions.

The Details

The company is reportedly working with Citigroup and EFG Hermes on the potential offering and has already held preliminary discussions with investors. However, MNT-Halan said no final decision has been made and that it continues to assess strategic alternatives and possible listing venues.

Founded in 2018, MNT-Halan is a fintech unicorn aiming to improve lives by transforming access to financial services through technology. It provides business and consumer loans, prepaid cards, e-wallets, investments, and e-commerce services. This is through the Halan app and a nationwide physical presence

The company offers lending, payments, e-commerce, and other financial products, targeting consumers and businesses that have historically had limited access to traditional banking services.

The reported valuation range for the Egyptian business is below the company’s most recent group valuation. In June 2026, MNT-Halan reached a valuation of USD 1.4 billion during a funding round led by a subsidiary of the National Bank of Egypt. Earlier, in 2023, UAE-based Chimera acquired a stake exceeding 20% for USD 200 million, helping the company achieve unicorn status.

The proposed listing would reportedly include only MNT-Halan’s Egyptian operations. The company’s businesses in Turkey, the UAE, and Pakistan would remain outside the listed entity.

The Ripple

A potential MNT-Halan IPO would further strengthen Egypt’s position as one of the region’s more active equity markets at a time when Gulf IPO activity has slowed. The transaction could also serve as an important test of investor demand for high-growth technology and fintech businesses on the Egyptian exchange.

The listing would join a growing pipeline of expected offerings, including state-affiliated companies such as Banque du Caire and Misr Life Insurance. A successful debut could encourage more private technology companies to consider local capital markets as a fundraising route rather than relying solely on private funding.

The development also reflects the increasing maturity of Egypt’s fintech ecosystem. As digital financial services companies scale and pursue public market listings, investors gain additional benchmarks for evaluating the sector’s growth potential and long-term profitability.

What to Watch

The key question is whether MNT-Halan proceeds with a listing and on what timeline. Investors will also be watching how the company structures the offering, given that only its Egyptian business is expected to be included.

More broadly, the transaction could offer an important signal about investor appetite for technology-driven listings in Egypt. If the IPO moves forward successfully, it may help reinforce confidence in the country’s capital markets and support the pipeline of upcoming public offerings across both the private and state-backed sectors.