In response to increasing economic challenges, consumer finance has become a vital financial solution, enabling individuals to meet their financial needs without bearing a heavy burden upfront.
As the Egyptian market continues to evolve, Said Zater has emerged as a transformative leader, significantly shaping the sector’s growth, enhancing financial accessibility, and reinforcing its role in supporting the Egyptian economy.
Said Zater: A Visionary Leader Driving Industry Transformation
As CEO of Contact Financial Holding and the first Chairman of the Egyptian Federation of Consumer Finance, founded in May 2021, Zater has played a pivotal role in the sector’s development.
He has worked to remove barriers facing non-banking financial service providers and has positioned the Federation as a key intermediary between these companies and the Financial Regulatory Authority (FRA), aiming to establish a robust regulatory framework that ensures stability and consumer protection.
Remarkable Market Growth Under Zater’s Leadership
Zater’s leadership has propelled the consumer finance sector to unprecedented heights:
Market size grew from EGP 17 billion in 2021 to EGP 55 billion in November 2024, a 224% increase.
The number of consumers benefiting from consumer finance surged from 1.35 million in 2021 to 3.76 million in 2024, reflecting a 179% rise.
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This impressive expansion has strengthened industry regulations, ensuring consumer rights protection, fostering fair competition, and creating a stable, growth-oriented environment for financial service providers.
Empowering Consumer Finance Companies Through Education & Awareness
Zater has actively contributed to increasing awareness and expertise within the sector by working closely with the Federation’s board members and the FRA. Under his guidance, the Federation has:
Organized 14 training programs and workshops on critical topics such as risk management, fraud prevention, credit inquiry (iScore), anti-money laundering (AML), and corporate governance for NBFIs.
Led industry discussions to address market challenges and explore new opportunities, ensuring continuous sector advancement.
Financial Literacy & Youth Empowerment Initiatives
Believing in the power of entrepreneurship and financial literacy, Zater has championed initiatives that educate young professionals and consumers on effective financial management. By promoting awareness of installment plans, regular payments, and responsible borrowing, he has helped enhance financial discipline and independence among Egyptian youth.
Leading Digital Transformation in Consumer Finance
Recognizing FinTech as the future of consumer finance, Zater has played a key role in integrating digital solutions into financial services. His efforts have led to:
Streamlined financial procedures and enhanced operational efficiency.
Innovative financing solutions tailored to evolving consumer needs.
Greater accessibility and inclusion through digital finance platforms.
Exceptional Growth at Contact Financial Holding
Under Zater’s leadership as Group CEO, Contact Financial Holding has achieved remarkable growth in consumer finance:
The number of signed financing contracts increased from 29,149 in 2020 to 127,788 in 2024, reflecting a 338% growth rate.
The company continues to expand its services, meeting the rising demand in Egypt’s dynamic financial market.
A Promising Future for Consumer Finance in Egypt
Looking ahead, Zater remains committed to sustainable growth in consumer finance. His strategic vision and collaboration with the FRA will drive:
Further regulatory enhancements for a more structured industry.
Accelerated digital transformation to expand financial accessibility.
Innovative financial products that cater to evolving consumer demands.
With these initiatives, Egypt’s consumer finance sector is set to become a cornerstone of economic growth and a key player in financial inclusion across the country.
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