Cairo – Sharikat Mubasher: Khazna Capital, part of Khazna, an Egypt-based fintech company serving underserved consumers, announced it had secured a Financial Regulatory Authority (FRA) consumer finance license after completing its acquisition of Pharos Consumer Finance Company from Pharos Holding for Financial Investments
As per the company’s announcement on LinkedIn, the transaction, completed earlier this year, enables Khazna to expand its presence in Egypt’s consumer finance market and offer regulated financing products to underserved customers. The company has also started deploying credit lines from financial institutions.
Khazna plans to leverage its business-to-business-to-consumer (B2B2C) model, which relies on partnerships and financing backed by users’ salaries and pensions, to expand distribution and manage credit risks.
The FRA license marks a regulatory milestone for the company as it seeks to broaden access to financial services among Egyptians underserved by traditional banks.
The company further added that the legal firm Zaki Hashem, Attorneys at Law, served as legal counsel for the acquisition, providing advisory and legal support throughout the transaction.
