Arab Finance: Al Ahly Capital, the investment arm of the National Bank of Egypt (NBE), will launch a new consumer finance company by the end of this year or early 2025, CEO and Managing Director Karim Saada told Asharq Business.
He added the new company has a capital of EGP 75 million, and it will be owned by the NBE and is not intended for resale.
Saada noted that the selection of the executive team is currently underway.