valU for Consumer Finance, the leading fin-tech buy-now pay-later platform (BNPL), and AZADEA Group, a premier lifestyle retail company in the Middle East and Africa, announced today the launch of a new partnership that will see AZADEA Group’s retail outlets be included in valU’s roster of merchants as the partners work together to meet their customers’ lifestyle needs.
The partnership marks the Egyptian real estate sector’s first venture into digital payment solutions and efforts to accelerate contactless real estate sales during the pandemic.
The Sovereign Fund of Egypt (TSFE) and EFG Hermes Holding S.A.E (EFG Hermes, HRHO on the Egyptian Exchange) are pleased to announce that they have executed agreements to acquire 76% of the capital of Arab Investment Bank (AIB or the Bank). The acquisition will be structured as a capital increase that will increase the paid-in capital of the Bank to EGP 5 billion, making it compliant with the regulatory requirements of the Egyptian Banking Law.
(Cairo, Egypt) — EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), reported today its first quarter results for 2021, with revenues climbing a solid 30% Y-o-Y to EGP 1.3 billion on the back of positive performance across the majority of the Group’s lines of business in 1Q21.
The deal marks the ninth transaction by EFG Hermes’ Investment Banking division in 2021 and is a continuation of the team’s longest streak of deals in a single year, which reached an all-time high of 24 transactions in 2020 worth an aggregate value of USD 1.7 billion.
EFG Hermes, the leading financial services corporation in frontier emerging markets (FEM), announced today the launch of a new partnership between its NBFI subsidiaries valU for consumer finance and PayTabs Egypt with LuLu Group International in Egypt, the Middle East’s leading hypermarket and supermarket chain. The partnership will allow LuLu shoppers to benefit from valU’s affordable and convenient financing plans, powered by PayTabs Egypt’s payment gateway.
The Sovereign Fund of Egypt (TSFE) and EFG Hermes announced today that TSFE has committed EGP 250 million to the EFG Hermes Education Fund’s third close. TSFE and GEMS Egypt also signed a memorandum of understanding to develop and operate two premium national schools West of Cairo, which will be built over 30,000 sqm with a capacity of 2,500 students each. The schools will be constructed on TSFE-owned land in line with its mandate to create value out of previously unutilized assets.
EFG Hermes, the leading financial services corporation in frontier emerging markets (FEM), announced today that its NBFI platform has signed a partnership with Universal Group to launch a bespoke e-commerce platform that will allow the home appliance manufacturer to serve customers directly. EFG Hermes subsidiary PayTabs Egypt will process payments on the platform, while subsidiary valU will bring to the table consumer financing facilities providing convenient payment plans for Universal Group’s customer base. EFG EV Fintech startup Business Boomers, a leading e-commerce enabler across Egypt and the MENA region, will implement Universal Group’s e-commerce online store on its zVendo.com platform.
EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), reported today its full year results for 2020, with revenues climbing 12% Y-o-Y to successfully surpass the EGP 5.0 billion mark and reach EGP 5.5 billion despite the impact COVID-19 had on global economies and capital markets.
EFG Hermes, the leading financial services corporation in frontier emerging markets (FEM), has for the first time been named the Best Investment Bank in Frontier Markets in 2021 by Global Finance magazine, one of the most renowned international publications covering financial institutions. The Firm was also named Best Debt Bank in Africa by the publication’s ranking of the World’s Best Investment Banks in 2021.
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