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E-finance establishes three subsidiaries to implement its expansion strategy - Daily News Egypt

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E-finance establishes three subsidiaries to implement its expansion strategy

These companies started lines of business within the company.


Ibrahim Sarhan, chairperson and managing director of e-finance, said that the company decided to launch three independent companies operating under the umbrella of the parent company e-finance. The three companies are e-cards, the integrated smart solutions company with a capital of EGP 150m, digital payments company “Khalis” with a capital of EGP 100m and E-commerce and digital platform ”e-aswaq”.

These companies started lines of business within the company.

He attributed the separation of these sectors to sister companies to the company’s new strategy to expand and meet the needs of the market and the implementation of its projects.

Sarhan said in a session with a number of journalists that E-Finance is the main way in Egypt for electronic payments and collections, especially that the company has invested EGP 600m in infrastructure. e-finance is the ideal partner to achieve financial inclusion and digital transformation and succeeded in doubling the number of employees to close to 1,000 employees.

He pointed out that over the past 12 years, e-finance has succeeded in implementing a number of major projects to leave a clear mark in the project of the Egyptian government’s financial network, the ”Khalis” public network and the social protection network.

 

He stressed the company’s readiness to implement any large digital project where it has the capabilities to design, govern, manage and operate efficiently a well-automated system in a sustainable manner, especially as there is a headquarters for the company in the smart village and another in New Cairo. Both were provided with the latest equipment and technical expertise to ensure the speed of overcoming any challenges According to international standards. 

 In her speech, Hala Al-Saeed, minister of planning, monitoring, and administrative reform, stressed that she is proud of the positive results achieved by e-finance throughout its history, especially that the National Investment Bank (NIB) is the main shareholder in this company, expressing her pride with a national company in the size and potential of e-finance, working in Egypt in the sector of digital payments technology.

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https://wwww.dailynewssegypt.com/2019/12/03/e-finance-establishes-three-subsidiaries-to-implement-its-expansion-strategy/
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