Al Safy Signs Strategic Partnership with Contact to Deliver an Unprecedented Consumer Finance Experience
ElSafi Group has signed a Memorandum of Understanding with Contact Financial Holding to launch a strategic partnership aimed at reshaping Egypt’s consumer finance landscape. The collaboration reflects a shared commitment to expanding financial inclusion and delivering innovative, customer-centric financing solutions.
For the first time in Egypt, the partnership brings together ElSafi Group’s broad, multi-sector presence - spanning electronics, automotive, technology, real estate, and fleet management - with Contact’s fully integrated non-banking financial services ecosystem and deep expertise in consumer finance. Together, the two groups are establishing a long-term alliance designed to redefine how individuals access non-banking financial services at scale.
The partnership aims to develop a comprehensive financing platform, starting with consumer finance and extending to a wider range of solutions that ease customers’ financial burdens and address their evolving needs. The platform will be supported by artificial intelligence to accelerate approval processes and will leverage an embedded finance model that seamlessly integrates financing into customers’ everyday purchasing journeys.
ElSafi Group is among Egypt’s leading diversified economic groups, with strong positions across technology, digital services, distribution, trade, food, real estate, urban development, transportation, and automotive sectors. The group operates an extensive portfolio of brands and companies serving millions of users daily, including electronics distributors Mobillaty, Switch Plus, and Spex, as well as the global brand Xiaomi. Its ecosystem also includes Tafweela, a specialized platform for payment solutions and vehicle and fleet payment management, and S.N Automotive, the exclusive manufacturer and distributor of Chinese automotive brands Dongfeng, Voyah, and MHERO. This diversification has enabled ElSafi Group to build an integrated ecosystem that connects daily consumer needs with advanced technology, positioning it as a key driver of digital experience development in the Egyptian market.
Commenting on the partnership, Reem ElSafi, Chief Executive Officer of ElSafi Group, said: “We see this partnership as a pivotal step toward building a fully integrated financial ecosystem that places the customer at the center of its priorities. It supports customers’ ambitions through practical solutions that make meeting their needs easier, while opening new horizons for innovation across the sectors we serve. This collaboration reaffirms our commitment at ElSafi Group to developing technology-driven solutions that expand access to smarter and more flexible financing. Integrating Contact’s financial services into our diverse ecosystem will create a qualitative shift in customer experience and contribute to a more inclusive and agile financing model that supports our expansion plans and strengthens our role in advancing Egypt’s digital and economic landscape.”
For his part, John Saad, Chief Executive Officer of Contact Financial Holding, stated: “Our partnership with ElSafi Group goes beyond a conventional agreement. It represents our vision of building an integrated financial ecosystem powered by advanced technology and seamlessly embedded into customers’ daily lives. Today, we are laying the foundation for a future-focused platform that moves beyond traditional financing to include smart financing and insurance solutions. Our goal is to set a new benchmark for the financing experience, where technology meets purchasing power to support financial inclusion and reach diverse segments of society through innovative, tailor-made financial solutions that empower individuals to achieve their economic aspirations with confidence.”
This partnership represents the first step toward a fully integrated, customer-first financial ecosystem, designed to support individual ambitions by delivering practical, accessible, and technology-enabled solutions across multiple aspects of everyday life.