e-finance acquires minority stake in 2 e-payment firms

Updated 5/22/2024 9:28:00 AM
e-finance acquires minority stake in 2 e-payment firms

Arab Finance: e-finance for Digital and Financial Investments has acquired a 25% stake in Al Ahly Momken and a 13% stake in EasyCash for Digital Payments, the firm stated.

The acquisition deals came within e-finance’s efforts to promote and streamline digital services for companies operating in the payment and collection field.

The deals are also part of e-finance’s strategy to widen its customer base and facilitate digital payments for individuals and corporates by providing digital payment services.

“The acquisitions come as part of the Group’s investment strategy which focuses on maximizing shareholder returns and financing future growth by conducting investments that add value to the Group and its subsidiaries,” Chairman of e-finance Ibrahim Sarhan commented.

“The addition of e-finance to the two companies’ shareholders will provide a great opportunity for both companies to enhance their operations and increase their market share by facilitating the provision of new digital payment products and services,” he added.

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