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valU, Paymob and the American University in Cairo School of Business enter into a partnership agreement to offer financing plans for executive education programs

11 July 2021

The parties are looking to avail convenient and affordable financing plans for Egypt’s leading business education programs for professionals

Cairo, 11 July 2021

valU, the leading Buy-Now Pay-Later platform (BNPL) for fintech consumer finance services, Paymob the leading payment facilitator in Egypt, and the American University in Cairo (AUC) School of Business announced today the launch of a new partnership that will see the former offer convenient financing and affordable installment plans for individuals seeking to pursue the school’s executive education programs.

Through the partnership, individuals seeking to obtain one of the AUC School of Business Executive Education qualifications will be able to benefit from valU’s installment payment plans up to 60 months. Installment payments will be made using valU through payment aggregator Paymob in order to further facilitate the process and offer customers a seamless payment experience. The school offers more than 25 professional development programs across a range of fields including sales and marketing, healthcare management, people and organizations, governance, and real estate development, among others, to professionals seeking to increase their knowledge and advance their careers in one of these fields.

‘We are very pleased to be partnering with the AUC School of Business Executive Education to provide working professionals with access to Egypt’s leading executive education programs,’ said EFG Hermes Non-Bank Financial Institutions (NBFI) CEO Walid Hassouna. ‘The partnership forms part of valU’s ongoing strategy to further expand our roster of offerings to include financing of vital services such as healthcare and education, among others, to meet the entirety of our customers’ needs, allowing them ease of financing and liquidity while pursuing their desired lifestyle. This strategic partnership with the AUC facilitates access to quality education, which opens the gateway to better, higher-paying jobs.’

Mohamed AbdelSalam, Executive Director of the AUC School of Business Executive Education, said, ‘We are thrilled to announce our partnership with valU, Egypt’s leading consumer finance platform, which will see us provide flexible and convenient financing programs to individuals seeking to develop their professional experience by specializing in one or more of our programs. Providing world-class educational services is our main priority and we look forward to the launch of our collaboration with valU, which will make our programs more accessible than ever.’

‘Empowering the educational sector is a key priority for Paymob which is why we are very excited to extend our long-term partnership with the AUC School of Business Executive Education, equipping its payment infrastructure with valU’s leading BNPL solution, tailored specifically for its executive education program,’ said Paymob CEO Islam Shawky.

In 2020, valU signed a number of key partnerships with K-12 educational providers to facilitate tuition payments for its customers.

-Ends-

About valU

A subsidiary of EFG Hermes established in 2017, valU is the leading Buy-Now Pay-Later (BNPL) fintech consumer financing platform offering convenient and customizable financing plans up to 60 months. With more than 5,000 points of sale and over 200 websites, valU offers access to a wide network of retail and e-commerce providers across a diverse array 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 are able to receive instant credit decisions through their devices and gain access to the ever-growing platform’s partners.

For further information, please contact:

EFG Hermes Media

media@efg-hermes.com

May El Gammal

Group Head of Marketing & Communications at EFG Hermes

melgammal@efg-hermes.com

About The American University in Cairo School of Business

Boasting an unrivalled reputation as the top private business school in Egypt and one of the best in Africa and the Arab world, AUC School of Business is dedicated to transforming the eager and innovative minds of today to become the responsible change agents of tomorrow, all while developing relevance and leadership in an evolving ecosystem.

Situated within AUC and enjoying nearly seven decades’ worth of history, the school offers a wide range of programs and activities that extend beyond the classroom to provide a holistic and engaging experiential learning approach. The school’s seal of excellence is the Triple Crown accreditation, which places it among the top 1 percent of educational institutions worldwide to achieve the Association to Advance Collegiate Schools of Business, the Association of MBAs and the European Quality Improvement System accreditations.

About The American University in Cairo

Founded in 1919, The American University in Cairo (AUC) is a leading English-language, American-accredited institution of higher education and center of the intellectual, social, and cultural life of the Arab world. It is a vital bridge between East and West, linking Egypt and the region to the world through scholarly research, partnerships with academic and research institutions and study abroad programs.

The University offers 40 undergraduate, 52 master’s and two PhD programs rooted in a liberal arts education that encourages students to think critically and find creative solutions to conflicts and challenges facing both the region and the world.

An independent, nonprofit, politically non-partisan, non-sectarian and equal opportunity institution, AUC is fully accredited in Egypt and the United States.

For further information, please contact:

Dena Rashed

Associate Director, Media Relations, The American University in Cairo

dena.rashed@aucegypt.edu

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Note on Forward-Looking Statements

In this press release, EFG Hermes and subsidiaries 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 the Group’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.

Disclaimer

EFG Hermes Holdings SAE published this content on 11 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2021 09:13:04 UTC.

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