The Egyptian "E Finance" acquires a minority stake in "Al -Ahly Possy" and "Easy Cash"

I Finanis Financial Investment and Seamatic Investments, one of the largest electronic payment companies in Egypt, gained a minority interest in ‘Al -Hhly possible’ and ‘easy cash’ for digital payments, according to people who are known to talk to ‘Al Sharq’. The Saudi Egyptian investment business, the arm of the Saudi public investment fund in Egypt, owns a share of about 25% of the shares of “I Finance”, founded in 2005 and specializes in the development and management of the technological structure of financial and digital transactions, responsible for the financial network of the Egyptian government. One of the persons familiar with the two transactions, who chose not to be mentioned because he was not authorized to talk to the media, revealed to Al -Sharq, that ‘E. Finance ‘acquired a share of 25% of the shares of the capital of’ Al -He -He -Hele ‘, which by the’ National Bank ‘purchased the government of the increase. Al -hly is one of the largest digital payment companies in Egypt, and through its systems it takes the accounts on the Insta Bay application of the Egyptian central. According to the person, “E Finance” also completed an agreement to acquire a 13% stake in the “Easy Cash” business owned by government agencies, adding: “The two transactions will be implemented in a market outside the cabin on the Egyptian stock exchange via the national investment bank Pharos.” Easy Cash was established in 2019 with the aim of developing financial transactions in Egypt, especially the digitization of payments.