Home Finance Egyptian Firm E-finance Launches Three Subsidiaries to Strengthen Expansion Plans

Egyptian Firm E-finance Launches Three Subsidiaries to Strengthen Expansion Plans

Managing director and chairperson of E-finance, Ibrahim Sarhan, said yesterday that the firm had launched three new subsidiaries. The move is aimed at further expanding the company’s footprint considerably.

The three new subsidiaries are e-cards, Khalis, and e-aswaq. With a capital of EGP 150 million, e-Card is a smart solutions company while Khalis will be involved in digital payments. e-Aswaq, on the other hand, will be a digital platform. Sarhan stated that the decision to split up these companies was aimed at serving customers better and also at meeting the expansion goals of E-finance.

E-finance is the only way for Egyptians to access digital payments, and the company believes that such a move will only help in expanding access. The company has invested as much as EGP 600 million and believes that E-finance has the capability of bringing in financial inclusion to Egypt in a big way.

The company is also going to boost its employee strength to 1000, which is twice the current figure. Sarhan also stated that some of the major projects completed by E-finance over the years had a major influence on the financial network of the Egyptian government. He also stressed that the company has the readiness to flag off a range of other projects as well when necessary.

Felicia Learned
Felicia Learned
Felicia well-known for her writing skills works as a content writer lead in our team. She also has a deep interest in forex, Finance & cryptocurrency funds and guides people dealing with a cryptocurrency exchange. She loves reading finance blogs in her free time. For any issues, you can contact her through email: felicia@forexnews.world</a.

Must Read

HDFC Bank Subsidiary HDB Financial to Raise $300M in Overseas Loan

Indian bank HDFC Bank’s subsidiary HDB Financial is raising $300 million in overseas loans. It is going to be the unit’s first-ever syndicated overseas...

Russia and OPEC Get Ready to Finalize Further Oil Production Cuts

Members of The Organization of the Petroleum Exporting Countries (OPEC) and those outside it are meeting in Vienna, Austria, today to finalize further cuts...

Egyptian Firm E-finance Launches Three Subsidiaries to Strengthen Expansion Plans

Managing director and chairperson of E-finance, Ibrahim Sarhan, said yesterday that the firm had launched three new subsidiaries. The move is aimed at further...

GFH Sets 200 Million Dollars Aside to Venture Into the Private Education Industry

GFH (GFH Financial Group) made an official announcement about unveiling Britus Education, a platform for K-12 education. It is designed to make the most...

South Korean Insurance Firm to Offer $3 Billion Financing to UAE Oil Firm

South Korea’s state-owned trade insurance firm, Korea Trade Insurance Corporation (K-Sure), has announced that it has reached an agreement to offer financial support worth...