Sahl Showcases Cutting-Edge Bill Payment Solutions at Gitex Africa 2024, Joins Visa Accelerator Program

"We are delighted to have the backing of esteemed investors as we continue our mission to revolutionize bill payments in Egypt," said Abdullah Assal, CEO of Sahl.

Sahl, Egypt's leading mobile bill payment app, recently made a significant impact at Gitex Africa 2024, Africa's largest technology event, highlighting its innovative solutions and pivotal role in transforming Egypt's financial landscape and beyond.

At Gitex Africa 2024, Sahl engaged with potential partners, investors, and customers, showcasing its comprehensive array of services and advanced technology. The app offers unmatched convenience by enabling users to pay bills for over 50 services—including electricity, gas, water, and mobile—through a single, user-friendly platform. Leveraging NFC technology, Sahl allows users to recharge prepaid cards anytime, anywhere. Additionally, Sahl has expanded its offerings with B2B products supporting utility services and payment acceptance for other businesses, broadening its reach and influence.

A distinguishing feature of Sahl is its direct integration with several governmental entities in Egypt, facilitating seamless access to services from major entities such as the Egyptian Electricity Holding Co (EEHC), New Urban Communities Authority (NUCA) for water services, and telecom operators (Vodafone, WE, Orange, and Etisalat). Sahl is also the exclusive provider of NFC prepaid electricity meters in Egypt, serving 15 million households. Users can conveniently charge their meters and make payments online, saving approximately 30 minutes per transaction by eliminating the need to visit charging stations.

In a significant achievement, Sahl has been selected to join the prestigious Visa Accelerator program, aimed at assisting innovative fintech startups in scaling their operations and enhancing technological capabilities. Through this program, Sahl will gain access to Visa's extensive network, resources, and expertise, accelerating its growth trajectory and expanding its service portfolio.

Furthermore, Sahl recently secured $6 million in Series A and seed funding, underscoring its position as a key player in Egypt's digital payment ecosystem. The funding round was led by Ayady for Investment and Development, a prominent Egyptian investment firm, with participation from existing investors Egypt Pay, Delta Electronics, and E-Finance Investment Group. These investments will support Sahl in advancing its technology, expanding service offerings, and reaching a broader user base, contributing to financial inclusion and digital transformation across the region.

"We are delighted to have the backing of esteemed investors as we continue our mission to revolutionize bill payments in Egypt," said Abdullah Assal, CEO of Sahl. "These developments will empower us to enhance our technological infrastructure, diversify our service offerings, and extend our reach, ultimately driving financial inclusion and digital adoption in Egypt."

Sahl's leadership team brings a wealth of expertise to the company's vision. CEO Abdullah Assal, with an MBA from Stanford and experience leading Globaltronics, spearheads the company's strategic direction. CPO Ahmed Othman, known as Kika, leverages his product management and finance background from CI Capital to drive innovation. CTO Ibrahim Assal, with a robust software engineering background from companies like Palantir, Careem, and Microsoft, oversees technological advancements at Sahl.

Dedicated to digitizing utility payments in Egypt, Sahl is committed to promoting digital channels over traditional cash transactions. With a vision to develop a comprehensive Super-app for financial management, Sahl aims to deliver world-class financial services to its growing customer base.