Souhoola wins FRA approval for digital consumer finance through V-Lens

CAIRO — Souhoola, the consumer finance arm of BM Consumer Finance, has received approval from Egypt's Financial Regulatory Authority to conduct consumer finance activities through fintech on its V-Lens platform.

The approval covers electronic know-your-customer onboarding, electronic contract execution and digital record-keeping. Its significance is timing. Souhoola filed before FRA Resolution 43 of 2026, which froze new fintech consumer-finance licenses for a year, so the company now holds a license window that competitors cannot currently enter.

Souhoola was established in 2019 with EGP 400 million in capital and reports more than 400,000 active customers, led by chief executive Ahmed El Shanawany. Full digital execution cuts the cost of acquiring and servicing small consumer loans, the segment where Egypt's consumer finance market is growing fastest.

Watch how aggressively Souhoola onboards during the freeze. A one-year head start on digital-only rivals, combined with an existing 400,000-customer base, is the kind of regulatory moat that shows up later in market share numbers.

Zawya first reported the approval.