Orange Egypt is evaluating ways to expand into consumer finance, with options including acquiring an existing lender, forming a partnership or creating a specialized subsidiary.
Hisham Mehran, CEO of Orange Egypt, said at the EnterpriseAM Egypt Forum that consumer finance is a priority for the telecom operator in the coming years. He did not provide a timeline or name potential acquisition targets.
Orange Egypt already offers consumer finance through Contact Credit Tech, a relationship established in 2023. It also provides device installments through Orange Installment and has partnerships with Commercial International Bank, Banque Misr and Souhoola.
According to the company, a more integrated lending model could make greater use of its customer relationships and billing data. The final structure will depend on the required investment, expected returns and the value the business could create for Orange Egypt and its financial services operations.
The potential move would build on Orange Egypt’s Orange Cash wallet and Orange Group’s experience with Orange Money across African markets. Mehran also pointed to rising cost pressures and changing consumer behavior as factors driving demand for financing.
Source: WAYA
