Suez Canal Bank and Oliv have announced the signing of a credit facility agreement worth EGP 30m to finance small and medium-sized enterprises (SMEs). Oliv is the first Egyptian company licensed by the Financial Regulatory Authority (FRA) to provide digital factoring services dedicated to SME financing.
The agreement comes as part of Suez Canal Bank’s efforts to strengthen the SME sector — a key pillar of Egypt’s economic growth and job creation. It underscores the bank’s commitment to offering diversified financing solutions that empower SMEs to better manage cash flows, expand operations, and address working capital needs.
Oliv provides Egypt’s first fully digital invoice financing product, enabling financing approvals in less than 48 hours.
Shehab Zidan, Deputy CEO and Managing Director of Suez Canal Bank, said the collaboration aligns with the bank’s vision to support financial innovation and broaden access to financing for SMEs, fostering a more dynamic and inclusive business environment.
Meanwhile, Hatem Sabry, Co-founder and Executive Board Member of Oliv, described the agreement as a key milestone in Oliv’s mission to bridge the SME financing gap and unlock new growth opportunities for thousands of businesses across various sectors. He added that the partnership with Suez Canal Bank reinforces financial inclusion and supports the expansion of Egypt’s digital finance ecosystem.
