Finance Ministry to offer eight T-bill, bond tenders worth EGP 190bn this week    US forces capture Maduro in "Midnight Hammer" raid; Trump pledges US governance of Venezuela    Gold slips at start of 2026 as thin liquidity triggers profit-taking: Gold Bullion    ETA begins receiving 2025 tax returns, announces expanded support measures    Port Said health facilities record 362,662 medical services throughout 2025    Madbouly inspects Luxor healthcare facilities as Universal Insurance expands in Upper Egypt    Nuclear shields and new recruits: France braces for a Europe without Washington    Cairo conducts intensive contacts to halt Yemen fighting as government forces seize key port    Gold prices in Egypt end 2025's final session lower    From Niche to National Asset: Inside the Egyptian Golf Federation's Institutional Rebirth    Egyptian pound edges lower against dollar in Wednesday's early trade    Oil to end 2025 with sharp losses    5th-century BC industrial hub, Roman burials discovered in Egypt's West Delta    Egyptian-Italian team uncovers ancient workshops, Roman cemetery in Western Nile Delta    Egypt to cover private healthcare costs under universal insurance scheme, says PM at New Giza University Hospital opening    Egypt completes restoration of 43 historical agreements, 13 maps for Foreign Ministry archive    Egypt, Viatris sign MoU to expand presidential mental health initiative    Egypt sends medical convoy, supplies to Sudan to support healthcare sector    Egypt's PM reviews rollout of second phase of universal health insurance scheme    Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services    Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



MTI Group to establish e-payment holding company to parent Bee, Masary
Both companies will retain their brands, operations to be integrated: MM group investment director
Alyaa Stohy Published in Daily News Egypt on 18 - 02 - 2020

The MM Group for Industry and International Trade (MTI) is preparing to establish a new electronic payment (e-payment) holding company that would include Bee and Masary under its umbrella.
Ashraf Al-Ghannam, Investor Relations and Business Development manager, told Daily News Egypt, that it is expected during the second half of this year to complete the procedures for establishing a holding company for e-payments within the framework of implementing the merger plan for the company's electronic payments sector.
Ghannam explained that the merger plan includes maintaining the two brands of Bee and Masary independently for each and developing the volume of business and expansion of each company separately, while the merger would include the two companies' internal operations , systems, and IT frameworks, as the couple work in the same field and consequently the operational process for them are one.
MTI supports its core operations with a Non-Banking Financial Services (NBFS) arm through its investment in Ebtikar, a jointly owned company by B Investments and MTI Group and invests mainly in e-Payments, through Masary and Bee.
Ghannam said that his company is planning to launch Ebtikar on the Egyptian Stock Exchange, and should start the procedures next year after establishing the new e-payments holding company.
MTI operates through several business lines, namely Consumer and Electronics, Telecom, Automotive and Pipes, and Tractors. Moreover, MTI supports its core operations with a NBFS arm through its investment in Ebtikar (49.9% stake). Ebtikar invests mainly in e-payments, micro-finance, mortgage, and leasing.

Clic here to read the story from its source.