EXCLUSIVE: Egypt’s Raya Holding mulls micro-insurance unit launch in 2020

Egypt’s Raya Holding for Financial Investments considers launching a new business unit focused on micro-insurance activities within next year, its chairman Medhat Khalil told Amwal Al Ghad on Thursday.

Raya aims to focus on non-banking financial activities, Khalil said, adding that his company had already started approaching those type of investments in 2016 when it launched Aman Group.

Earlier in October, Raya’s three subsidiaries, Aman for Financial Services, Aman for Microfinance, and Raya Electronics, had issued securitisation bonds totalling 500 million Egyptian pounds ($31 million).