Takka, the innovative Sharia-compliant consumer financing solution by ADI-Consumer Finance, the consumer finance arm of Abu Dhabi Islamic Bank-Egypt (ADIB-Egypt), is celebrating its first anniversary, marking over one million app downloads in a year of remarkable success in transforming the Egyptian consumer lending landscape.
Since Takka’s launch in June 2023, 250,000 users applied for consumer financing via the app. During this period, Takka has extended total financing limits exceeding EGP 500m, solidifying its position as a growing financial inclusion champion and providing consumers with financial freedom to purchase the products they need.
Takka is Egypt’s first Sharia-compliant consumer financing app linked to a prepaid card. The app has also received approvals from the Central Bank of Egypt and the Financial Regulatory Authority in March 2023. Takka provides users with the financial freedom to buy products and pay for them in instalments via any electronic POS across all stores in Egypt.
Its universal acceptance across retailers nationwide signifies a pivotal shift in consumer preferences and a vote of confidence from merchants.
Consumers can enjoy a hassle-free shopping experience with Takka, with zero admin and zero card issuance fees, and no down payment.
Additionally, Takka offers flexible financing terms of up to 36 months, allowing users to manage their purchases comfortably at any store nationwide.
“ADI-Consumer Finance has achieved a tangible market breakthrough, playing a definitive role in advancing ADIB-Egypt’s overarching goal of expanding financial freedom,” stated Amr Sanad, Chairman of ADI-Consumer Finance.
“The growth and success of Takka is the culmination of extensive teamwork and synchronized collaboration led by some of Egypt’s most experienced finance and fintech professionals. As the financial industry continues to witness groundbreaking transformations, ADI-Consumer Finance will continue to deliver on its commitment to remain at the forefront of innovation, offering digital and accessible financial solutions that cater to customers’ evolving needs.”
“The growth of our flagship product Takka is a true reflection of our commitment to financial empowerment,” said Yasmine Helal, CEO of ADI-Consumer Finance.
“We’re incredibly proud of the value we offer both consumers and merchants, effectively bridging a market gap by serving our customers with a smooth and secure experience. We’re confident that by continuing to prioritize innovative and financially inclusive solutions, Takka’s role as a driving force in shaping the future of Egyptian consumer finance will continue to grow, reshaping the consumer lending landscape for years to come.”
Takka empowers merchants with a suite of advantages designed to boost their sales, profitability, and a higher capital turnover rate at no risk, given the innovative app’s associated card.
Takka prioritizes customer experience with a dedicated on-ground support team working daily across five shopping malls in Egypt. Additionally, there are over 50 card pickup points at select ADIB-Egypt branches across the country to better serve customers and offer them secure solutions.
Established in October 2021, ADI-Consumer Finance continues to be at the vanguard of digitizing Sharia-compliant consumer finance. With a team of industry experts in the fields of financial services, consumer financing, and digitization, the company remains dedicated to redefining the consumer lending ecosystem in Egypt while ensuring financial inclusivity for all.
