Egypt joins Geneva negotiations on Global Plastics Treaty, calls for urgent agreement    Egypt delivers over 30 million health services through public hospitals in H1 2025    Madinet Masr in talks for three land plots in Riyadh as part of Saudi expansion    Egypt's PM tells Palestinian PM that Rafah crossing is working 24/7 for aid    Egypt, Japan discuss economic ties, preparations for TICAD conference    Real Estate Developers urge flexible land pricing, streamlined licensing, and dollar-based transactions    Egypt's Sisi pledges full state support for telecoms, tech investment    EGP inches down vs. USD at Sunday's trading close    EGX launches 1st phone app    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt, Namibia explore closer pharmaceutical cooperation    Jordan condemns Israeli PM remarks on 'Greater Israel'    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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.



Vodafone Egypt to buy 20% stake in Ebtikar's e-payment subsidiaries Masary, Bee
The MoU paves the way for Vodafone Egypt to participate in the two e-payment platforms' capital subscription with a 20% stake.
Daily News Egypt Published in Daily News Egypt on 23 - 02 - 2021

Vodafone Egypt signed, on Tuesday, a Memorandum of Understanding (MoU) with Ebtikar Holding for Financial Investments (Ebtikar), to obtain a 20% stake in the latter's two electronic payment subsidiaries: Masrary and Bee.
The MoU paves the way for Vodafone Egypt to participate in the two e-payment platforms' capital subscription with a 20% stake.
According to a press statement by Vodafone Egypt, this comes as part of the company's strategy to increase its investments in Egypt and provide various digital payment services to its individual and corporate customers.
Recently, Vodafone International CEO Nick Reed pledged to increase the company's investments in the Egyptian market during a meeting with Egyptian President Abdel Fattah Al-Sisi in Cairo.
Reed said that Egypt is witnessing a comprehensive development process, reflecting wide opportunities for investments. He expressed his company's eagerness to expand its activities in Egypt, as one of the largest markets in the region in the telecommunications and information technology sector.
The MoU was signed in the presence of Vodafone Egypt's CEO Mohamed Abdallah, Ebtikar board member and Chairperson of MM Group Khaled Mahmoud, and Ebtikar CEO and Chairperson of Bee Ayman El-Desouky.
According to the statement, the due diligence process would start immediately, and as soon as this transaction is completed, Bee and Masary will remain committed to all agreements and partnerships concluded with all parties operating in the Egyptian market without change.
Vodafone said that the deal is expected to boost the business volume in the two companies as they will benefit from Vodafone's expertise in Africa to regionally expand.
For his part, Abdallah stressed that Vodafone seeks to increase its investment in Egypt.
Bee and Masary have been among the most important e-payments companies operating in the Egyptian market for more than 10 years, providing more than 800 payment services through more than 110,000 points of sale.

Clic here to read the story from its source.