e-Finance Chairman: PIF will raise its stake in the company to ‎‎27%‎

Ibrahim Sarhan, Chairman and Managing Director of the Egyptian e-Finance Company for Financial and Digital Investments, revealed that the Public Investment Fund increased its stake in the company by 2%, bringing it to 27%, by purchasing shares listed on the Egyptian Stock Exchange.

He explained in an interview with “Al Arabiya Business” that the fund submitted a request to the Egyptian Financial Supervision Authority a month ago to increase its stake in the company and began buying from the market weeks ago, to raise its stake, indicating that this is considered a positive matter for the company indicating that the fund trusts it and the results. Her works…

Sarhan pointed out that at the beginning of this month, the company opened its branch in Saudi Arabia in cooperation with the Public Investment Fund, as it is one of the main shareholders in the group, and obtained the main licenses, stressing that this branch will perform all the work it undertakes after obtaining the special licenses.

The Chairman of the Board of Directors and Managing Director of e-Finance for Financial and Digital Investments stated that they will soon announce the local partner with whom they will provide electronic payment services in the Saudi market, adding, “We hope that Saudi Arabia will be the beginning of the entry of other Arab and African countries according to a plan drawn up with… “Investment Fund and the provision of services and expertise that we have gained.”