BM Consumer Finance – Souhoola has secured approval from Egypt’s Financial Regulatory Authority (FRA) to conduct consumer financing activities through financial technology using its V-Lens platform, paving the way for a more digitally driven customer experience.
The approval marks a significant step in the company’s efforts to modernise its financing operations, simplify customer procedures and expand access to digital financial services in Egypt’s growing consumer finance market.
Souhoola’s application was submitted before the FRA introduced Resolution No. 43 of 2026 in February, which suspended the acceptance of new applications for establishing companies and licensing consumer finance activities using fintech for one year. The company’s application was approved because it had been filed before the suspension came into effect.
The authorisation covers four key areas of digital finance: electronic identification and authentication, electronic customer identification, digital execution of contracts for non-banking financial products, and the electronic registration, storage and retrieval of records.
Together, these capabilities are expected to help Souhoola move more of its financing procedures online. Customers could benefit from a smoother process, with digital tools supporting identity verification, contract completion and record management while ensuring compliance with applicable regulatory requirements.
The move also reflects the company’s broader strategy to strengthen its technology infrastructure, improve operational efficiency and diversify its financing services in response to changing customer expectations.
Ahmed El Shanawany, CEO of Souhoola, described the approval as an important milestone in the company’s development. He said the company remains focused on using technology to make financing more accessible and flexible while expanding its range of solutions to meet the needs of Egyptian consumers.
He also highlighted the growing importance of digital adoption in improving the efficiency of financial services and widening access to financing.
Beyond its technology investments, Souhoola continues to expand its service portfolio and build partnerships across different sectors. The strategy is aimed at reaching a broader customer base and offering financing options suited to a wider range of needs as Egypt’s non-banking financial services industry continues to evolve.
Souhoola’s Growing Footprint in Egypt
Established in 2019, BM Consumer Finance – Souhoola operates with a capital of EGP 400 million and serves more than 400,000 active customers.
The company focuses on delivering flexible financing solutions supported by modern technology and partnerships across multiple industries. Its business strategy centres on developing customer-focused products, improving access to financing and contributing to wider financial inclusion in Egypt.
The latest FRA approval adds another component to that strategy, giving Souhoola regulatory clearance to use designated fintech capabilities in its consumer finance operations as it seeks to strengthen its position in the Egyptian market.
