Tag: Egypt
Saudi Arabia reportedly suspends talks to acquire Egypt’s United Bank
Saudi Arabia has reportedly shelved a plan by its sovereign wealth fund to acquire the United Bank of Egypt as talks with Egyptian authorities...
Egypt’s Tadbiir Group launches non-banking financial services for SMEs
Tadbiir for Leasing and Factoring Company said Wednesday that it has launched its non-banking financial services to better support the small and medium-sized enterprises...
UAE’s ADNOC Distribution completes acquisition of 50% stake in TotalEnergies Egypt
UAE’s ADNOC Distribution said Wednesday that it has completed the acquisition of a 50% stake in TotalEnergies Marketing Egypt for approximately $186 million (EGP...
Moody’s downgrades 5 Egyptian banks, citing weaker sovereign
Moody’s has downgraded the long-term bank deposit ratings of five Egyptian banks by one notch a week after the rating company lowered the North...
Dubai’s Network International to launch ‘direct to merchant’ payments in Egypt
Dubai-based payments processor Network International said Wednesday that it will launch its new ‘direct-to-merchant’ service offering in Egypt after receiving approval from the central...
Paymob and Khazna seek to expand access to digital financial services in Egypt
Paymob said Wednesday that it has partnered with Egyptian financial super app Khazna to expand access to digital financial services and enhance the services...
HSBC, Uber launch new on-demand cashouts in Egypt
HSBC Egypt said Wednesday that it has joined forces with Uber Technologies to launch Flexpay, a digital payments solution that provides unbanked drivers on...
Egypt’s MNT-Halan now valued at $1 billion after $400 million funding round
Egyptian fintech firm MNT-Halan said Wednesday it has raised $400 million in new equity and finance, valuing the microfinance lending and payments at more...
EFG Hermes’ valU, Sympl partner for short-term BNPL plans
Egyptian buy now pay later (BNPL) firm valU said Thursday that it has partnered with fintech firm Sympl to allow the its clients to...
Egypt inks $1.5 billion financing agreement with ITFC
Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation (ITFC) to fund the country’s trading, including imports of...