IKEA Egypt partners with Souhoola for innovative payment methods

15 / 11 / 2023

By Marwa Nassar - -

IKEA Egypt, the prominent Swedish furniture brand and a subsidiary of the Al-Futtaim Group, has partnered with Souhoola Consumer Finance Company for innovative payment solutions within the framework of its commitment to sustainability.

The primary objective of this collaboration is to extend installment services to customers shopping at IKEA branches in Egypt. The partnership introduces a limited-time installment offer that includes a 6-month installment plan with 0% interest, 0% management fees, and 0% down payment. Furthermore, as part of this exclusive deal, IKEA is introducing an ongoing installment plan, providing customers with the flexibility to extend their payments over a period of up to 12 months, all without incurring any interest.

IKEA’s strategy revolves around delivering top-notch products and emphasizing sustainability across all facets of its operations. Through this strategic alliance with Souhoola, IKEA is keen to fortify its market presence, presenting diverse financial solutions to meet the needs of its customer base. This move aligns with IKEA’s ongoing commitment to sustainability and its ongoing efforts to enhance the customer experience.

Munir Siraj – Store Manager for IKEA Egypt expressed his enthusiasm for this partnership, remarking, “Our collaboration with Souhoola Consumer Finance Company is a crucial component of IKEA Egypt’s strategy to diversify financing options for our customers, providing them with a range of solutions to facilitate their purchases through various payment solutions offered by Souhoola. At IKEA, we prioritize our customers’ needs and aim to offer financial flexibility to better serve them.”

Ahmed Al-Shenwani – Managing Director for Suhoola Consumer Finance Company, stated that the collaboration with IKEA is a significant and valuable addition to the company as it is part of the company’s expansion plan in the furniture market, allowing our customers to enjoy purchasing from one of the leading companies in this field through fast and innovative financing programs that provide them with various payment options that positively reflects on the increased satisfaction with our financial services.