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Huawei Cloud & Souhoola Join Forces to Revolutionize Egypt’s Fintech Landscape

February 26, 2025
3 min read
Author: Aayushya Ranjan

Huawei Cloud partners with Souhoola to enhance digital payments, drive fintech innovation, and boost financial inclusion across Egypt with cutting-edge cloud solutions.

Huawei Cloud announced the signing of a Memorandum of Understanding (MOU) with BM Consumer Finance (Souhoola), with the aim of supporting digital payment services through the latest Huawei Cloud services.

As part of this strategic partnership, BM Consumer Finance (Souhoola) began leveraging Huawei Cloud services in collaboration with its certified business partner, DO for Information Technology (DOIT). This agreement marks a significant milestone in BM Consumer Finance (Souhoola)’s digital transformation journey, as Huawei Cloud enhances the company’s technological capabilities and optimizes its overall performance, while also representing an important step in providing cloud services to companies across the fintech sector, ensuring full compliance with Egyptian laws and regulations.

The MOU was signed by Mr. XU Fuqiu JO, CEO of Huawei Cloud Egypt, and Ahmed El-Shanawany, Managing Director of BM Consumer Finance (Souhoola). By employing Huawei Cloud’s advanced technologies and leading cloud solutions, Souhoola will be able to enhance the customer experience, streamline operations, and boost financial inclusion across Egypt. Through the development of an integrated digital platform, customers will be able to manage their financial affairs easily and safely. With a shared vision for digital innovation, both companies are poised to lead the rapid transformation of the fintech landscape in Egypt.

Since launching Huawei Cloud services in Egypt, we’ve been dedicated to empowering businesses in their digital transformation journeys. In today’s cloud-driven world, we leverage our advanced cloud solutions to help enterprises achieve significant operational efficiencies. This partnership with Souhoola aims to enhance payment solutions and accelerate digital transformation within the fintech sector. We are committed to being the trusted partner for businesses navigating this dynamic landscape.

– Mr. XU Fuqiu JO, CEO, Huawei Cloud Egypt

We are proud to partner with Huawei Cloud, as this agreement marks a pivotal moment in Souhoola’s journey to innovate and expand our financial services across Egypt. By utilizing Huawei’s secure and scalable cloud technologies, we are enhancing our ability to provide accessible, efficient financing options to individuals and small businesses. This collaboration will accelerate our digital transformation while playing a vital role in advancing financial inclusion, ensuring that all Egyptians can access the services they need to improve their lives.

– Ahmed El-Shanawany, Managing Director, BM Consumer Finance (Souhoola)

Sameh Kandil, CEO of DO for Information Technology (DO IT), said that this partnership represents an important milestone in the fintech sector, marking the company’s inaugural venture in this field and laying the foundation for even greater successes. It’s also the start of a promising journey in collaboration with BM Consumer Finance (Souhoola) and other industry leaders, driving innovation and growth across the sector. This is all thanks to the effort made by the entire team, particularly the technical team, which made strides in meeting Souhoola’s business needs over the course of five months, during which the project’s objectives were successfully achieved. The Huawei team also played a huge role in accomplishing this significant achievement, both technically and in meeting the top management’s goals with efficiency and professionalism.

With this groundbreaking initiative, Huawei Cloud and BM Consumer Finance (Souhoola) are reinforcing their strong commitment to digital innovation and enhancing technological infrastructure in Egypt, paving the way for the prosperity of the fintech sector and opening new horizons for future growth.

It is noteworthy that Huawei launched its Cloud Region in Egypt in 2024, becoming the first company to establish a public cloud in the region. The Cairo Region is designed to provide Huawei Cloud’s innovative and intelligent capabilities, serving as a strategic hub for countries across Northern Africa.

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