ValU’s app provides consumers with an integrated platform to buy and pay in installments from over 5,000 supplier partners, service providers and over 200 e-commerce websites with a variety of fashion products and services. , furniture, home appliances, electronics, health care and travel and much more.
Walid Hassouna, CEO of non-bank financial institutions at EFG Hermes and CEO of valU, expressed his enthusiasm for signing a partnership agreement with one of the largest e-commerce platforms in the Egyptian and African market. “By capitalizing on valU’s extensive experience in consumer finance services, we aim to help Jumia clients meet their needs by enabling them to adopt a modern lifestyle without the financial burden. Hassouna said the signing of such a partnership is in line with the company’s goals of focusing on strengthening strategic relationships with key retail partners in order to expand our network and reach more customers. by improving their shopping experience.
Ing. Hesham Safwat, CEO of Jumia Egypt, expressed his satisfaction with this strategic partnership: “We are proud to have a leading brand like vaIU among our successful partners, as both companies aim to provide the best remittance services, this which in turn will increase the number of consumers transacting on our e-commerce platform, increasing their financial burden.
“We have worked closely with JumiaPay to integrate the two platforms in record time to offer our customers a seamless experience allowing them to access a wide range of products available through Jumia. We were keen to build a solid foundation for the promotion of digital payments allowing both parties to expand their business in Egypt and act as a launching pad to expand into African markets. Concluded Mohamed El Wakeel, Group Chief Operating Officer of EFG Hermes.
We believe that technology has the potential to transform everyday life in Africa, for the better. We created Jumia to help consumers access millions of goods and services conveniently and at the best prices, while giving sellers a new way to reach consumers and grow their businesses.
Jumia is a leading e-commerce platform in Africa. Our marketplace is supported by our proprietary logistics company, Jumia Logistics, and our digital payment and financial technology platform, JumiaPay. Jumia Logistics enables the seamless delivery of millions of packages while JumiaPay facilitates online payments and the distribution of a wide range of digital and financial services.
For more information, please contact:
Head of Public Relations and Communication at Jumia Egypt
A subsidiary of EFG Hermes created in 2017, valU is the leading Buy-Now Pay-Later (BNPL) fintech platform offering practical and customizable financing plans for up to 60 months. With over 5,000 points of sale and over 200 websites, valU provides access to an extensive network of retail and e-commerce providers in a wide range of categories including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel and fashion, among others. As the first platform of its kind in the MENA region, valU customers can receive instant credit decisions through their devices and access the ever-growing platform partners.
Note on forward-looking statements
In this press release, EFG Hermes may make forward-looking statements, including, for example, statements regarding management expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but represent only the belief of EFG Hermes regarding future events, many of which, by their nature, are inherently uncertain and beyond the control of management and include, among others, the volatility of financial markets ; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, current and future laws, regulations and regulatory measures. Therefore, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
© Press release 2021