Contact Financial Holding Onboards John Saad as CEO

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Contact Financial Holding onboards John Saad. (Image courtesy : Contact Financial Holding)
Contact Financial Holding onboards John Saad. (Image courtesy : Contact Financial Holding)

In a strategic move, Contact Financial Holding reaffirmed its ongoing commitment to growth, innovation, and market leadership, as Said Zater has officially handed over executive leadership to John Saad, who assumes the role of Managing Director and Chief Executive Officer of Contact Financial Holding. This leadership shift coincides with Zaterโ€™s appointment as Vice Chairman of the Groupโ€™s Board of Directors. The Group has maintained a solid performance over the years, closing FY24 with a total financing portfolio exceeding EGP 21 bn.

John Saad brings over 20 years of diverse experience in commercial and marketing within the technology sector across various markets. Saad began his professional journey at one of Egyptโ€™s largest telecom companies, where he advanced through multiple marketing roles before ascending to prominent C-level positions. He has served as Chief Commercial Officer (CCO) at several distinguished companies across Egypt, Qatar, Saudi Arabia, and the UAE. He also served as CEO of a leading digital entertainment platform in the MENA region and is the Co-Founder and CEO of one of the regionโ€™s leading AI-focused companies.

John Saad, CEO of Contact Financial Holding, stated: “I am thrilled to join Contact Financial Holding and would like to extend my sincere appreciation to Said Zater for his visionary leadership, which has firmly positioned Contact among Egyptโ€™s top non-banking financial institutions. It is an honour to be part of this Group, which has achieved a total lending of nearly EGP 75 bn since inception. I look forward to driving excellence by building upon these achievements, prioritising customer-centricity, and developing innovative financing solutions, while preserving the Groupโ€™s strong foundation and deeply rooted values.”

Contact Financial Holding logo (Image Courtesy: Contact official website)

As Egyptโ€™s first licensed consumer finance provider, Contact has maintained its market leadership for over 24 years by continuously offering innovative and customer-focused financial solutions. Through its financing arms, Contact Credit, offering a wide range of financing solutions including auto loans, home interior, furniture, education, club memberships, and green finance; and Contact Creditech, which has transformed the fintech landscape with its AI-powered โ€œContact Nowโ€ app, enabling real-time credit assessment and instant financing approvals, transforming the customer experience. The Group has significantly expanded its offerings to include leasing, mortgage, and factoring, backed by a network of 72 branches across Egypt, a Dubai-based office serving Egyptian expatriates in the UAE and a regional presence in Kenya through its subsidiary โ€œAlmasiโ€.

In capital markets, Contact remains a key player through โ€œSarwa Securitizationโ€. The Group successfully closed its 45th bond issuance in 2024, valued at EGP 1.2 bn. With this issuance, the total value of bonds issued in the Egyptian market and backed by portfolios generated by Contact has reached approximately EGP 30 bn through 29 bonds. This stands as a testament to Contactโ€™s exceptional expertise in structuring and managing debt instruments and attracting investors. Beyond securitization, Contact has also played a leading role in sukuk issuances, further cementing its position as Egyptโ€™s largest fully integrated player in the DCM prospect.

In parallel with its pioneering role in consumer finance, Contactโ€™s insurance division has also demonstrated remarkable performance, with Sarwa Insurance, Sarwa Life Insurance, and Contact Insurance Brokerage collectively achieving Gross Written Premiums (GWP) nearing EGP 7 bn by the end of 2024. The Group continues to expand its integrated offerings, delivering customer-centric insurance solutions that align with evolving market demands.

Contactโ€™s remarkable growth is fueled by its innovation-driven and digital transformation approach, driven by a team of more than 3,000 skilled professionals that has firmly established the company as a leader in Egyptโ€™s financial sector. Contact continues to lead the market with its digital offerings, particularly โ€œContactNowโ€ app, which facilitates customers’ access to financial solutions. Additionally, โ€œContactCars.comโ€, Egyptโ€™s first specialized digital automotive platform, offering innovative solutions that streamline the processes of buying, selling, financing, and insuring vehicles for both individuals and dealers. ContactCars.com witnessed substantial growth, with monthly users reaching 1.2 mn by the end of 2024. In recognition of its digital leadership, Contact was named one of Forbes Middle Eastโ€™s โ€œTop 50 Fintech Companies in Egyptโ€ for the second consecutive year. Backed by this solid foundation, Contact continues to strengthen its position as the leading non-banking financial services provider and Egyptโ€™s most powerful digital arm in the financing and insurance sectors.

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