Tanmeyah, a subsidiary of EFG Holding and Egypt’s leading provider of financial services, announces growing its strategic partnership with Gulf Insurance Group (GIG - Egypt), one of the Gulf Insurance group companies and a leading provider of non-life insurance solutions in the country. This collaboration marks a significant milestone as it enables Tanmeyah to expand its product offerings to include multiple new innovative insurance products, further fortifying its commitment to financial empowerment and inclusion. The company has obtained the necessary regulatory approvals from the Financial Regulatory Authority for the new set of product offerings.
Valu, MENA’s leading universal financial technology powerhouse, announced today that it has closed its seventh securitized bond issuance. The issuance is part of the approved extended EGP 9.0bn program. The bond is backed by a receivables portfolio assigned to EFG for Securitization as the issuance’s special purpose vehicle (SPV).
Tanmeyah, a subsidiary of EFG Holding and Egypt’s leading provider of financial services, has been honored with a distinguished award by the Egyptian Federation for Micro, Small, and Medium Enterprises (MSMEs) in recognition of its invaluable support to the federation and the industry as a whole.
EFG Hermes, the leading investment bank in Frontier and Emerging Markets (FEM), announced today that its investment banking division successfully completed its advisory on the USD 315 million initial public offering (IPO) of Dubai Taxi Company (DTC), a leading provider of comprehensive mobility solutions in Dubai, on the Dubai Financial Market (DFM). EFG Hermes acted as Joint Bookrunner on the transaction.
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.
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