Valu, MENA’s leading universal financial technology powerhouse, and GSK, a science-led global healthcare company, announced today a unique partnership aimed at providing flexible financing solutions for a range of GSK's vaccines available at a wide range of pharmacies across Egypt. By introducing innovative financing options, the collaboration endeavors to make the purchase of GSK's vaccines more attainable for a wider demographic, thereby positively impacting the healthcare landscape in Egypt.
PayTabs Egypt, MEASA’s award-winning payments powerhouse, announced today a strategic partnership with mnGm, a digital platform that acts as the digital distributor for Gold Net Trading (GNT), which is a subsidiary of Evolve Investment Holding as well as its trading arm. This collaboration marks a significant milestone in the Egyptian market, as it introduces card acceptance for gold purchases online for the very first time in the country. The partnership will provide customers and investors with access to investment-grade gold through PayTabs Egypt’s secure, seamless, and regulated payment channels.
The EFG Foundation for Social Development (EFG Foundation), a non-profit, non-governmental organization that supports sustainable, high-impact development initiatives to assist local underprivileged communities, announced today that it has signed a tripartite agreement with aiBANK Foundation for Community Development (aiBANK Foundation) and Magdi Yacoub Heart Foundation to support the training and qualification of nurses in the treatment centers affiliated with the Magdi Yacoub Heart Foundation at the Aswan Heart Centre (AHC).
Valu, MENA’s leading universal financial technology powerhouse, announces a strategic partnership with Kazyon, one of the largest discount retailers in Egypt, to provide accessible and convenient financing solutions to Kazyon's substantial customer base. The collaboration aims to give Kazyon shoppers convenient access to Valu's range of financial solutions.
EFG Hermes, the leading investment bank in Frontier and Emerging Markets (FEM), announced today that it successfully concluded advisory to UAE investment firm Global Investment Holding Ltd on the USD 625 million transaction, which involves the acquisition of 30% in the Egyptian tobacco giant Eastern Company from Egypt’s state-owned Chemical Industries Holding Co. (CIHC) which was approved by the cabinet on the 3rd of September 2023. EFG Hermes acted as the sole financial advisor to Global Investment Holding Ltd in the acquisition.
EFG Holding, a financial institution with a universal bank in Egypt and a leading investment bank in Frontier and Emerging Markets (FEM), announced today strong financial performance for the third quarter of 2023. The Group booked a robust revenue increase of 27% Y-o-Y to EGP 3.0 billion, with strong contributions from its Investment Bank arm, EFG Hermes, and its commercial bank arm, aiBANK. Although operating expenses, including provisions and Expected Credit Losses (ECL), rose 22% Y-o-Y to EGP 2.0 billion in 3Q23, the Group's net operating profit soared to EGP 1.0 billion, reflecting an impressive 40% Y-o-Y increase. The Group's net profit after tax and minority interest amounted to EGP 395 million, a notable 24% Y-o-Y growth.
EFG Hermes, the leading investment bank franchise in Frontier and Emerging markets (FEM), announced today that its investment banking division has successfully completed advisory for Orascom Development Egypt’s (ODE) subsidiary Orascom for Real Estate S.A.E (ORE) for a syndicated ten-year loan agreement of EGP 6.0 billion, to finance its leading project in Cairo- O West. EFG Hermes acted as the sole financial advisor, lead manager, and bookrunner for ORE.
H.E. Dr. Moustafa Madbouly, Egypt’s prime minister, H.E. Dr. Hala El Said, Minister of Planning and Economic Development & Chairperson of The Sovereign Fund of Egypt (TSFE), H.E. Dr. Reda Hegazy, Minister of Education & Technical Education inaugurated today four schools within the first phase of cosmic village land development project. This project is implemented through a partnership between TSFE and private sector pioneers in the field of education, to provide world-class education, affordable to middle-income Egyptian families.
EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that it successfully closed the second issuance of a future flow securitized bond for CIRA Education, the largest integrated provider of educational services in the Egyptian private sector. The transaction, worth EGP 700 million, is the second issuance of an approved EGP 2.0 billion bond program and is backed by future revenues generated by the company.
aiBANK, a renowned provider of comprehensive retail, corporate, and banking solutions in Egypt, announced that it was awarded the title of “Fastest Growing Bank in the Arab Region” by the esteemed World Union of Arab Bankers. The award was received by Tamer Seif El-Din, CEO and Managing Director of aiBANK, as part of the award ceremony organized by the World Union of Arab Bankers titled ‘the Arab Banks Awards & Commendations of Excellence 2023’, which was held for the ninth consecutive year. The selection process, conducted by a distinguished panel of specialized analysts based on a rigorous evaluation, saw aiBANK emerge as the clear frontrunner, surpassing its peers and demonstrating its unwavering commitment to excellence.
We use cookies to collect information about how you use our website. And we use the information derived from such cookies to ensure the functionality of our website and to enhance our services.
