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The collaboration aims to give Kazyon shoppers convenient access to Valu's range of financial solutions.
Cairo, November 21, 2023
Valu, MENA’s leading universal financial technology powerhouse, announces a strategic partnership with Kazyon, one of the largest discount retailers in Egypt, to provide accessible and convenient financing solutions to Kazyon's substantial customer base. The collaboration aims to give Kazyon shoppers convenient access to Valu's range of financial solutions.
By integrating U, Valu's convenient Buy-Now, Pay-Later (BNPL) solution within Kazyon's extensive retail network, both companies are dedicated to delivering a seamless and affordable shopping experience for Egyptian customers. This strategic partnership arrives at a pivotal moment, coinciding with the adverse consequences of escalating commodity prices on consumers. By seamlessly integrating a BNPL payment option into the shopping process, customers are equipped with a powerful tool to counteract the effects of price hikes. Consequently, this collaboration not only fosters a more inclusive retail experience but also empowers individuals to navigate the challenges posed by rising commodity prices more effectively.
Walid Hassouna, CEO of Valu, expressed his enthusiasm as he embarked on a partnership that championed financial inclusivity throughout Egypt. With a shared mission, this collaboration empowers Valu to directly cater to millions of customers across 19 governorates, tailoring payment options to suit their unique requirements. By providing convenient, empowering payment solutions at every point of sale, Valu and Kazyon join forces to uplift communities and enhance their financial well-being."
Taghreed Khattab, CEO of Kazyon, expressed her excitement about the partnership, acknowledging its potential to positively impact a wide range of customers and enhance their daily lives. She emphasized that this collaboration perfectly aligns with Kazyon's mission of improving the lives of millions.
With an unwavering commitment to addressing the market's requirements, both companies have recognized the power of collaboration in offering timely solutions when it comes to meeting their clients’ essential needs. In today's dynamic business landscape, such collaborations have become increasingly prevalent as companies strive to provide innovative and responsive solutions, facilitating access to convenient payment options that alleviate financial burdens.
-ENDS-
About Valu
Valu is the leading universal financial technology powerhouse offering customers and businesses convenient and comprehensive financial solutions. Under its product universe, Valu pioneered Buy-Now, Pay-Later (BNPL) solutions in the MENA region through ‘U’, providing customizable financing plans for up to 60 months across more than 6,000 points of sale and over 1,500 websites and apps – covering a diverse array of categories, including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. Valu also offers investment products, an instant cash redemption program, savings solutions, and a financing solution to facilitate the purchase of big-ticket items up to EGP 15 million in the luxury space through the AZ Valu fund and EFG Hermes ONE, Sha2labaz, Akeed, and Ulter respectively. In addition, Valu offers business-to-business solutions with a hassle-free HR payroll service and more through Valu Business. As an award-winning fintech player in the MENA region, Valu embraces a progressive mindset with an agile workforce committed to architecting innovative financial solutions.
For further information, please contact:
May El Gammal
melgammal@valu.com.eg
Omar Salama
osalama@valu.com.eg
Valu Public Relations Team
Public_Relations@valu.com.eg
About Kazyon:
Founded in 2014, Kazyon is Egypt's largest discount retailer, operating over 800 stores in 19 governorates. The company offers groceries at competitive prices, serving millions of customers nationwide. Kazyon's proprietary logistics network and focused range of products have positioned it as a leader in the Egyptian retail market.
Note on Forward-Looking Statements
In this press release, Valu may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only Valu’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations, and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.