Suez Canal Bank and oliv announce the signing of an agreement for an EGP 30 million credit facility, dedicated to finance Egyptian small and medium-sized enterprises (SMEs). oliv is the first Egyptian company licensed by the Financial Regulatory Authority (FRA) to provide digital factoring services, and focuses on supporting SMEs. This step comes as part of the Bank’s continuous keenness to supporting the SME sector, which is a key pillar of economic growth and job creation in Egypt.

The agreement reflects the Bank’s efforts to empower SMEs with fast and flexible financing solutions that enhance their ability to manage cash flow, expand their operations, and overcome working capital challenges. oliv offers a fully digital invoice financing product, enabling SMEs to access working capital funding within 48 hours.

Shehab Zidan, Deputy CEO and Managing Director of Suez Canal Bank, said that this partnership reflects the Bank’s vision to support financial innovation and expand access to finance for SMEs, contributing to a more dynamic and resilient business environment.

Hatem Sabry, oliv’s co-founder and Executive Board Member, stated that the facility marks a significant milestone in oliv’s mission to minimize the SME financing gap and enable new growth opportunities for thousands of businesses across different sectors. He added that oliv’s innovative business model supported by this partnership with Suez Canal Bank promotes financial inclusion in the Egyptian market.

About Suez Canal Bank:

Suez Canal Bank is an Egyptian joint stock company established as a commercial bank providing customers with the financial products and services since 1978, with a paid-up and issued capital of EGP 6.5 billion, 650 million shares, and an authorized capital of EGP 10 billion.

It provides a diverse package of banking solutions, financial products, and services to its institutional and individual customers, through 54 branches and representative offices in Tripoli, Libya, including a branch dedicated to Islamic transactions, in addition to a network of ATMs spread across all Egypt, in addition to a network of correspondents around the world.

About oliv:

oliv is a digital invoice financing company serving small and medium businesses in Egypt. It empowers Egyptian SMEs by providing simple and fast working capital financing. Its service involves minimal manual interactions and no technology requirements from clients and delivers funding in less than 48 hours.

oliv was incorporated in 2024 and is backed by local, regional, and international institutional investors. The company received the first digital factoring license from the FRA under decree number 3025 for the year 2024.