- maseera Holding for Financial Investments announces its acquisition of Adva.
- 2 Point Zero Group aims to invest one billion dollars to support financial inclusion.
- The acquisition enhances the utilization of data and artificial intelligence to support innovative financial solutions.
maseera Holding for Financial Investments”, a subsidiary of 2 Point Zero Group, has acquired the Egyptian company “Adva“, which specializes in consumer-directed financing.
This move comes after 2 Point Zero Group’s acquisition of “maseera Holding“, as part of its expansion strategy aimed at growth.
Earlier this year, 2 Point Zero Group revealed its plans to invest one billion dollars in long-term capital to support “maseera Holding’s” vision of building a global platform that contributes to enhancing financial inclusion.
The company will initially focus on markets worldwide that suffer from a lack of financial services.
Amr Abu Aish, CEO of “maseera Holding“, stated: “We share the same vision and values with “Adva“, as we place great emphasis on providing human-centered and affordable financial services.”
He added, “Together, we will leverage data and artificial intelligence to deliver innovative financial solutions targeting middle- and low-income communities in Egypt.”
By utilizing advanced artificial intelligence technology, the joint platform will redesign the customer experience in digital financing, offering fast and comprehensive borrowing solutions specifically aimed at individuals in Egypt who lack access to financial services.
As part of its future steps, “Adva” has applied for the first digital consumer financing license in Egypt, a regulatory step that will allow it to conduct comprehensive customer registrations through electronic procedures based on client analysis, along with the use of legally binding digital signatures.
This move will facilitate access to banking services for more than 50 million Egyptians, aligning with national priorities to support financial inclusion and enhance digital transformation in Egypt.
Following the completion of the acquisition deal, “Adva” will continue to focus on developing the consumer financing market in Egypt, working to provide financial products that meet the essential needs of communities and improve access to credit for those lacking financial services.
This deal is in line with Egypt’s agenda for digital transformation and financial inclusion, reinforcing “maseera Holding” and 2 Point Zero Group’s commitment to developing sustainable financial platforms aimed at making a positive impact, empowering communities, and providing economic value in emerging markets.
