First published: 19-Sep-2025 08:06:27

Ahmed Ali

Egyptian Souhoola, a subsidiary of Banque Misr the country's second-largest state-owned bank—plans to issue securitization bonds worth EGP 750 million ($15.6 million) next month as it seeks to expand into the Saudi market, its CEO Ahmed Alshanawany told Zawya Arabic.

The Saudi market is becoming increasingly attractive to Egyptian companies, as the Saudi Investment Promotion Authority has granted nearly 7,000 investment licenses to Egyptian companies to operate in the Kingdom, according to the latest available data issued last April.

Several Egyptian companies plan to issue securitization bonds, with lower interest rates after the Central Bank of Egypt decided in August to cut interest rates for the third time in 2025 by about 2%, bringing the total reduction since the beginning of this year to 5.25%.

“There is an offering (of securitization bonds) next month of approximately EGP 750 million,” according to Alshanawany. The issuance will be part of a program launched last November, which spans three years and has already seen one issuance.

Souhoola was founded in 2019. Its current business volume is estimated at about EGP 3.2 billion, and it aims to boost it by 40% by the end of this year, according to Alshanawany.

Regarding expansion abroad, Alshanawany said, "There are discussions about entering the Saudi market... the discussions are in their early stages,” noting that the company is studying this plan in cooperation with Egyptian and Saudi entities, without providing further details.

Click here to read the article in Arabic.

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