Egypt has seen the number of active smart-phone users, 50+ Million people, rapidly and greatly exceeding the number of users with access to formal financial services, only around 20 Million people. This has led Egyptians to greatly rely on informal sources.
Khazna offers a seamless mobile-first customer experience consisting of products that meet the specific needs of the underbanked population. The product range comprises lending, payroll, payments, savings and insurance products. Our products will allow our users to manage their financials conveniently without having to enter a bank branch. This will significantly increase access to financial services.
Our initial offering constitutes a salary backed loan product that allows our users to receive the earned part of their salary at any time throughout the month and to repay over 3 months’ time. The product has helped thousands of users to cover emergency expenses quickly and at low cost and thus achieve financial comfort.