Cairo, March 13, 2025
Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt, has announced the signing of a cooperation protocol with Tomorrow Solar, a company specializing in solar energy, to finance the establishment of solar power stations for the bank’s residential sector customers. This partnership aligns with the bank’s commitment to supporting the transition to renewable energy and promoting environmental sustainability, which is in line with Egypt’s Vision 2030 and the Sustainable Development Goals.
As part of this collaboration, Bank NXT offers financing covering up to 100% of solar panels and installation costs. The program features competitive interest rates, full exemption from administrative fees, and flexible repayment plans of up to 7 years (84 months). It also features fast approvals, simplified procedures, and reduced documentation requirements, facilitating a seamless transition to clean energy for customers.
supporting the green economy
The signing of this protocol aligns with Egypt’s Vision 2030, which aims to increase reliance on clean energy sources to generate 42% of total electricity by 2035. This cooperation reflects Bank NXT’s commitment to supporting the green economy by facilitating investment in renewable energy, reducing carbon emissions, and contributing to Egypt’s sustainability goals.
The protocol signing event was attended by Sherif Nada, Head of Retail Banking, Branch Network, and BB at Bank NXT, Mostafa Nabil Moshref, Chairman of Tomorrow Solar, and a distinguished group of executives from the bank and the company.
Tamer Mostafa, Senior Director of Business Development and Sustainable Development at Bank NXT stated, “This partnership with Tomorrow Solar is a strategic step in our commitment to financing sustainable solutions that enhance the green economy and support the future of energy in Egypt. The initiative goes beyond providing seamless financing for individuals’ homes and residential complexes—it reinforces Bank NXT’s role in accelerating the transition to renewable energy as a fundamental choice for daily life. Facilitating access to financing through flexible procedures and extended repayment plans promotes environmental sustainability, supports economic growth, and provides long-term benefits for individuals and the community, establishing a more sustainable and efficient economy.”
Mostafa Nabil Moshref, Chairman of Tomorrow Solar, commented, “Our partnership with Bank NXT represents a strategic step towards supporting the shift to renewable energy by providing innovative financial and technical solutions that contribute to economic and environmental sustainability, positively impacting Egypt’s future.”
Through this initiative, Bank NXT and Tomorrow Solar continue to lead the renewable energy sector by offering practical and efficient solutions that accelerate the adoption of clean energy, support economic growth, reduce reliance on traditional energy sources, and protect the environment for future generations.
About Bank NXT
Bank NXT (formerly known as aiBANK) was established in 1974 as an investment and business bank and commenced its activities under the supervision of the Central Bank of Egypt in 1978 with a capital base of USD 40 million, which was later increased to EGP 1,987 million in 2020. Moreover, as per the decisions of the general assembly held on the 10th of October in 2021, and after the completion of the Bank’s acquisition deal, the Bank received approval to increase its paid-up capital to EGP 5,000,000,003 and adjusted its ownership structure accordingly to accommodate both new and existing investors, as per the following:
- EFG Holding S.A.E – (51%)
- Egypt’s Financial Services and Digital Transformation Sub-Fund – (25%)
- National Investment Bank – (24%)
The Bank offers banking services for individuals through its broad spectrum of retail banking products and corporate banking services for businesses and institutions by providing loan syndication services to companies and institutions looking to finance large national projects that support the economy and the Bank. The Bank is keen on supporting the growth of small and medium enterprises, which play a crucial role in Egypt’s overall economic and social development and provide investment and treasury services.
The Bank offers its services to its customers through its 34 branches nationwide. It is constantly expanding its geographical presence by opening new branches, with two new branches set to open this month. In addition, the bank is expanding its ATM network to ensure that it covers all key locations. The Bank is also committed to satisfying its customers by providing unique and competitive services and investing in its tech systems and human capital to improve the overall level of its banking services.
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