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EFG Hermes close to obtain licence to finance startups

EFG Hermes close to obtain licence to finance startups

ArabFinance:  Egyptian Financial Group Hermes Holding (EFG Hermes) (HRHO) is close to obtain a licence to finance startups and small- and medium-sized enterprises (SMEs), Amwal El Ghad reported, citing the CEO of EFG Hermes Finance Walid Hassouna.

This came on the sidelines of a seminar organized by the Egyptian Lebanese Businessmen Friendship Association (ELBA).

EFG Hermes targets expansion in e-payment and business management companies in collaboration with Banque Misr, Hassouna highlighted.

The group has been keen on investing in startups based in Egypt, the USE, and Jordan across different sectors such as logistics, healthcare, fintech, and education, he said.

EFG Hermes has presence in the UAE, Saudi Arabia, Kuwait, Jordan, Oman, and Pakistan. It operates in holding and treasury, brokerage, asset management, investment banking, private equity, leasing, microfinance, and assets held for sale.

 

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04 Oct 2021
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