valU, MENA’s leading buy-now and pay-later (BNPL) lifestyle enabling fintech platform, announced Monday signing of a protocol with the Arab Organization for Industrialization (AOI), one of Egypt’s largest manufacturers of consumer products and electronics, and Zero Tech, its subsidiary specializing in high-tech security systems, to offer valU’s financing solutions to customers of both manufacturers.
The agreement was announced at a press conference at the AOI factory. It was signed by Walid Hassouna, CEO of the non-bank financial institutions (NBFI) platform at EFG Hermes Holding and CEO of valU, and Ahmed Abdel-Aziz, Chairperson of the electronics factory at the AOI.
The protocol agreement allows Egyptians to conveniently acquire their needs including home appliances and electronics, amongst others, through valU’s affordable instalment plans, thus enabling both local manufacturers to reach a wider customer base.
The AOI’s customers will be able to utilize valU’s convenient financing plans to pay for a wide array of consumer products, including phones, televisions, and home appliances, such as microwaves, fans, vacuum cleaners, and more. Zero tech’s electronic surveillance systems, including security cameras, fingerprint and access control, video intercom and surveillance systems, home automation, and fire alarms, will also be made affordable to all Egyptians through the protocol agreement with valU, which offers convenient tenures that range from 6 to 60 months.
“Partnering with two of the country’s giant local manufacturers is a moment of national pride for valU. It allows us to support them in serving Egyptians during current times of inflationary pressures, all while creating more opportunities for local production. This flagship protocol agreement is also in line with our plan to add value to our customers and empower them to own and access today’s technology and day to day household needs. valU is once again proving it is consistently delivering on its mission to be the MENA region’s go-to BNPL lifestyle-enabling solution, creating a long-lasting impact on people’s lives. Moreover, it is increasingly playing a pivotal role in driving the Egyptian economy, and we expect to reach a broader range of customers through this protocol agreement,” said Walid Hassouna.
The AOI’s is committed to developing, testing and acquiring the latest technologies, to affirm its leadership, ability to access new markets, and efforts to leverage innovation to offer integrated industrial services. Its investment strategy is aligned with the latest in customer policies and needs, and its expertise continues to deliver the most up-to-date programs and diverse projects. Its high-quality and environmentally friendly products remain relevant to consumer needs, and are made possible through a wide array of strategic partnerships and entrepreneurship programs. The AOI continues to be perceived in the market as the backbone of industrialization and a centre of excellence for advanced sciences, as it persistently seeks new business solutions, explores research and development, and adheres to best-in-class industry practices.
On his part, Ahmed Abdel-Aziz said: “We’re very happy with this cooperation through which we hope to make access to prime electronic products easier through valU’s 6 to 60 months instalment plans offered to customers. We expect this initiative to increase our client base and expand our reach to different classes, as we commit to adopting an ambitious all-encompassing development strategy to cover technical, technological, and administrative aspects to achieve further growth.”
This year, valU further solidified its role as the market leader in BNPL lifestyle enabling fintech services, serving as a gateway through which consumers can access seamless financing solutions. The success builds on the foundations laid over the past few years by the BNPL player, having made great strides to expand its service offering and sign several key partnerships in various industries with players such as EgyptAir, Misr Insurance, Majid Al Futtaim Group, OPPO, the American University in Cairo, Saudi German Hospital in Egypt, and SODIC’s Club S, Noon, and Waffarha among others.