Egypt-based fintech investment platform, Exits MENA, announced that it had obtained the final securities promotion and underwriting licence from the Egyptian Financial Regulatory Authority (FRA) earlier this month.
This milestone achievement allows Exits MENA to expand its services and provide more investment channels to its clients through a regulated environment, ultimately benefiting startups in the ecosystem.
Exits MENA is now authorised to offer listing and public offering services to its clients on the Egyptian Stock Exchange (EGX) and the SME platform, Nile Stock Exchange (NILEX).
FRA’s licence will enable Exits MENA to assist startups and companies in meeting the listing requirements of EGX and NILEX, which can be challenging for emerging businesses due to the demanding listing requirements, calling for several pre-conditions such as governance, legal status, financial requirements, etc.
The platform can assist startups and companies in navigating the process of going public and accessing the capital markets, providing them with liquidity, transparency, and fair value assessments.
Ayman El Tanbouly, co-founder and managing director of Exits MENA, expressed his happiness of obtaining the licence from the Egyptian Financial Regulatory (FRA).
“With this licence, we can now offer more comprehensive services to our clients, including IPOs, and our existing M&A and private placement services,” El Tanbouly added.
Exits will provide guidance and expertise in going public; Exits MENA aims to bridge the gap between regional and global peers regarding IPOs for tech businesses in Egypt.
Ahella El Saban, Exits co-founder and vice chairman of Exits MENA, further explained, “working within the startup ecosystem over the past few months, we have seen multiple market trends that have impacted the already growing gap in investment readiness amongst startups in our ecosystem.”
El Saban added that the licence will allow them work in their mission towards empowering the investment market of SMEs and Startups via their investment platform; which will have significant economic impact on the sector in the region.
Helping more SMEs and startups towards their IPO journeys allows Exits to help the ecosystem in multiple ways, such as increasing access to capital, improving investor confidence.
In addition to Exits help in creating enhanced company valuations, and increasing job creation, all of which can have substantial economic and social impacts on the Egyptian economy and startup scene.
“We believe that IPOs are essential for the growth and development of the tech business ecosystem in Egypt,” said Mohamed Abu el-Naga, Chairman of Exits MENA.
Exits MENA aims to provide investors and founders with liquidity, transparency, and effective methodology for fair value assessments. This will contribute to the overall growth of the tech business ecosystem in Egypt.
The platform aims to support the growth and development of the startup ecosystem in MENA, providing innovative solutions to help startups access funding, achieve successful exits, and drive economic growth.
