Latest news with #AladdinElAfifi
Zawya
20-05-2025
- Business
- Zawya
EFG Finance approves acquisition of Fatura by MaxAB-Wasoko
Strategic Partnership Solidifies E-Commerce & Supply Chain Platform, Unlocks New Value for Retailers, and Signals Bold Growth Across Africa Cairo, Egypt: EFG Finance, an EFG Holding company, proudly announces it has reached an agreement for MaxAB-Wasoko, the region's leading e-commerce and supply chain super app, to acquire Fatura, its Egypt-based B2B e-marketplace. This multifaceted partnership results in EFG Finance becoming a significant shareholder in MaxAB-Wasoko and securing a seat on its board. This acquisition marks a pivotal step in MaxAB's broader strategy to consolidate the B2B e-commerce and fintech space across Africa. Following last year's transformative merger with Wasoko, which expanded their footprint into Kenya, Rwanda, and Tanzania, MaxAB-Wasoko continues to execute on its vision to create a truly pan-African platform that delivers comprehensive, tech-enabled solutions tailored to local market needs. 'The acquisition of Fatura is more than a growth play; it's the realization of our ambition to become the go-to, one-stop-shop for retailers throughout Africa,' said Belal El-Megharbel, CEO of MaxAB-Wasoko. 'By bringing together operational strength, product depth, and innovative fintech offerings, we're setting a new standard for retail across the region.' With Fatura fully integrated into the MaxAB-Wasoko platform and unified under the company's brand, retailers will immediately benefit from a broader, more comprehensive product assortment, critical in a fragmented supply chain environment where no single distributor can meet all retailer needs. Fatura's impressive reach, having onboarded over 626 wholesalers in 16 cities (including five new cities for the platform, ensures greater flexibility and convenience for small and medium-sized retailers. Aladdin ElAfifi, CEO of EFG Finance, stated: 'We are thrilled to partner with MaxAB-Wasoko as they reshape the retail and supply chain sectors. Integrating Fatura will drive meaningful business growth, and our role as a significant shareholder and board member supported by EFG Holding reinforces our commitment to fostering innovation in the fintech space'. Additionally, MaxAB's embedded financial services will unlock expanded credit access for purchases made by its expanding merchant network. This innovative, tech-driven approach empowers retailers with the working capital needed to stock more, sell more, and grow their businesses sustainably. Fatura, founded in 2019 and acquired by Tanmeyah (an EFG Holding subsidiary) in 2022, brings a scalable, asset-light marketplace model that perfectly complements MaxAB's robust end-to-end supply chain from procurement to last-mile delivery. This combination unlocks access to a broader range of suppliers and products, delivering unmatched value through choice and convenience. The integration is expected to drive significant topline growth and operational efficiency over the next 12–18 months. In the near term, the Fatura marketplace is projected to contribute approximately 25% of MaxAB's Egypt revenue by year-end, with strong momentum and exponential growth anticipated as the model is rolled out across the company's other African markets. Since the merger of Wasoko and MaxAB, the combined entity has achieved remarkable growth across its fintech and e-commerce verticals. The company's fintech business has doubled in Egypt, expanded to Morocco, and now provides credit solutions that finance over 9% of e-commerce sales, underscoring strong demand from retailers for digital financial services. Operational enhancements and improved supplier terms have further strengthened the company's regional supply chain capabilities, setting the stage for scalable expansion. Together, MaxAB-Wasoko and EFG Finance are building the future of African retail an integrated, tech-enabled ecosystem that empowers retailers, improves supply chain efficiency, and propels economic growth across the continent. About EFG Holding EFG Holding (EGX: – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes. EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance and EFG Finance SMEs which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt. Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria
Tahya Masr
20-05-2025
- Business
- Tahya Masr
EFG Finance Approves Acquisition of Fatura by MaxAB-Wasoko, Accelerating Pan-African B2B and Fintech Services Rollout and Ambitious Expansion
EFG Finance, an EFG Holding company, proudly announces it has reached an agreement for MaxAB-Wasoko, the region's leading e-commerce and supply chain super app, to acquire Fatura, its Egypt-based B2B e-marketplace. This multifaceted partnership results in EFG Finance becoming a significant shareholder in MaxAB-Wasoko and securing a seat on its board . This acquisition marks a pivotal step in MaxAB's broader strategy to consolidate the B2B e-commerce and fintech space across Africa. Following last year's transformative merger with Wasoko, which expanded their footprint into Kenya, Rwanda, and Tanzania, MaxAB-Wasoko continues to execute on its vision to create a truly pan-African platform that delivers comprehensive, tech-enabled solutions tailored to local market needs. 'The acquisition of Fatura is more than a growth play; it's the realization of our ambition to become the go-to, one-stop-shop for retailers throughout Africa,' said Belal El-Megharbel, CEO of MaxAB-Wasoko . 'By bringing together operational strength, product depth, and innovative fintech offerings, we're setting a new standard for retail across the region.' With Fatura fully integrated into the MaxAB-Wasoko platform and unified under the company's brand, retailers will immediately benefit from a broader, more comprehensive product assortment, critical in a fragmented supply chain environment where no single distributor can meet all retailer needs. Fatura's impressive reach, having onboarded over 626 wholesalers in 16 cities (including five new cities for the platform, ensures greater flexibility and convenience for small and medium-sized retailers . Aladdin ElAfifi, CEO of EFG Finance, stated: 'We are thrilled to partner with MaxAB-Wasoko as they reshape the retail and supply chain sectors. Integrating Fatura will drive meaningful business growth, and our role as a significant shareholder and board member supported by EFG Holding reinforces our commitment to fostering innovation in the fintech space'. Additionally, MaxAB's embedded financial services will unlock expanded credit access for purchases made by its expanding merchant network. This innovative, tech-driven approach empowers retailers with the working capital needed to stock more, sell more, and grow their businesses sustainably. Fatura, founded in 2019 and acquired by Tanmeyah (an EFG Holding subsidiary) in 2022, brings a scalable, asset-light marketplace model that perfectly complements MaxAB's robust end-to-end supply chain from procurement to last-mile delivery. This combination unlocks access to a broader range of suppliers and products, delivering unmatched value through choice and convenience. The integration is expected to drive significant topline growth and operational efficiency over the next 12–18 months. In the near term, the Fatura marketplace is projected to contribute approximately 25% of MaxAB's Egypt revenue by year-end, with strong momentum and exponential growth anticipated as the model is rolled out across the company's other African markets . Since the merger of Wasoko and MaxAB, the combined entity has achieved remarkable growth across its fintech and e-commerce verticals. The company's fintech business has doubled in Egypt, expanded to Morocco, and now provides credit solutions that finance over 9% of e-commerce sales, underscoring strong demand from retailers for digital financial services. Operational enhancements and improved supplier terms have further strengthened the company's regional supply chain capabilities, setting the stage for scalable expansion. Together, MaxAB-Wasoko and EFG Finance are building the future of African retail an integrated, tech-enabled ecosystem that empowers retailers, improves supply chain efficiency, and propels economic growth across the continent.
El Fagr
19-05-2025
- Business
- El Fagr
EFG Finance Approves Acquisition of Fatura by MaxAB-Wasoko، Accelerating Pan-African B2B and Fintech Services Rollout and Ambitious Expansion
EFG Finance Approves Acquisition of Fatura by MaxAB-Wasoko، Accelerating Pan-African B2B and Fintech Services Rollout and Ambitious Expansion Strategic Partnership Solidifies E-Commerce & Supply Chain Platform، Unlocks New Value for Retailers، and Signals Bold Growth Across Africa Cairo، Egypt – May 19، 2025 EFG Finance، an EFG Holding company، proudly announces it has reached an agreement for MaxAB-Wasoko، the region's leading e-commerce and supply chain super app، to acquire Fatura، its Egypt-based B2B e-marketplace. This multifaceted partnership results in EFG Finance becoming a significant shareholder in MaxAB-Wasoko and securing a seat on its board. This acquisition marks a pivotal step in MaxAB's broader strategy to consolidate the B2B e-commerce and fintech space across Africa. Following last year's transformative merger with Wasoko، which expanded their footprint into Kenya، Rwanda، and Tanzania، MaxAB-Wasoko continues to execute on its vision to create a truly pan-African platform that delivers comprehensive، tech-enabled solutions tailored to local market needs. 'The acquisition of Fatura is more than a growth play; it's the realization of our ambition to become the go-to، one-stop-shop for retailers throughout Africa،' said Belal El-Megharbel، CEO of MaxAB-Wasoko. 'By bringing together operational strength، product depth، and innovative fintech offerings، we're setting a new standard for retail across the region.' With Fatura fully integrated into the MaxAB-Wasoko platform and unified under the company's brand، retailers will immediately benefit from a broader، more comprehensive product assortment، critical in a fragmented supply chain environment where no single distributor can meet all retailer needs. Fatura's impressive reach، having onboarded over 626 wholesalers in 16 cities (including five new cities for the platform، ensures greater flexibility and convenience for small and medium-sized retailers. Aladdin ElAfifi، CEO of EFG Finance، stated: 'We are thrilled to partner with MaxAB-Wasoko as they reshape the retail and supply chain sectors. Integrating Fatura will drive meaningful business growth، and our role as a significant shareholder and board member supported by EFG Holding reinforces our commitment to fostering innovation in the fintech space'. Additionally، MaxAB's embedded financial services will unlock expanded credit access for purchases made by its expanding merchant network. This innovative، tech-driven approach empowers retailers with the working capital needed to stock more، sell more، and grow their businesses sustainably. Fatura، founded in 2019 and acquired by Tanmeyah (an EFG Holding subsidiary) in 2022، brings a scalable، asset-light marketplace model that perfectly complements MaxAB's robust end-to-end supply chain from procurement to last-mile delivery. This combination unlocks access to a broader range of suppliers and products، delivering unmatched value through choice and convenience. The integration is expected to drive significant topline growth and operational efficiency over the next 12–18 months. In the near term، the Fatura marketplace is projected to contribute approximately 25% of MaxAB's Egypt revenue by year-end، with strong momentum and exponential growth anticipated as the model is rolled out across the company's other African markets. Since the merger of Wasoko and MaxAB، the combined entity has achieved remarkable growth across its fintech and e-commerce verticals. The company's fintech business has doubled in Egypt، expanded to Morocco، and now provides credit solutions that finance over 9% of e-commerce sales، underscoring strong demand from retailers for digital financial services. Operational enhancements and improved supplier terms have further strengthened the company's regional supply chain capabilities، setting the stage for scalable expansion. Together، MaxAB-Wasoko and EFG Finance are building the future of African retail an integrated، tech-enabled ecosystem that empowers retailers، improves supply chain efficiency، and propels economic growth across the continent.
Zawya
06-03-2025
- Business
- Zawya
EFG Finance announces strategic divestment from PayTabs Egypt to optimize operational efficiency
Cairo: EFG Finance, an EFG Holding company and its non-bank financial institution's arm, has announced its strategic divestment from PayTabs Egypt as part of its ongoing initiative to streamline operations and achieve greater efficiencies across its portfolio. EFG Finance will sell its 51% stake in PayTabs Egypt to PayTabs Global for an undisclosed amount, which is not expected to have a material impact on the Group's financial position. Aladdin ElAfifi, CEO of EFG Finance, commented: 'Our divestment from PayTabs Egypt represents a strategic step in refining our operational focus. By reallocating resources from non-core assets, we enhance our ability to drive sustainable growth and innovation in key areas. This decision aligns with our long-term strategic objectives and commitment to delivering value to our stakeholders.' EFG Finance will continue to explore opportunities that align with its mission of providing innovative financial solutions in a dynamic market environment. The vertical remains dedicated to focusing its efforts on delivering comprehensive financial services to clients, both individuals and businesses of all sizes. By prioritizing innovation and adaptability, EFG Finance aims to equip its clients with the tools and solutions they need to thrive in an ever-changing economic landscape. This commitment to excellence ensures that EFG Finance will consistently offer tailored and cutting-edge financial products that support growth and success. About EFG Holding EFG Holding (EGX: – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) - the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes. EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, Fatura, a technology-backed B2B marketplace and EFG Finance SMEs which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt. Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria Learn more about us at: For further information, please contact: May El Gammal Group Chief Marketing & Communications Officer of EFG Holding melgammal@ Omar Salama Senior Communications Manager of EFG Holding osalama@ The EFG Holding Public Relations Team PublicRelations@ Note on Forward-Looking Statements In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management's expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding's belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management's control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
