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

Trade99 Review: Reliable, Secure, Innovative

Trading has become less consuming these days because of the availability of many online platforms. Online platforms are user-friendly. They do not need any...

American Automotive Firm Rivian Raises $1.3 Billion in Fund Investment Round

Headquartered in America, the globally leading automaker and automotive tech firm, Rivian has broadcasted the news about the closure of its highly anticipated investment...

Iran Moots Common Cryptocurrency for Muslim Nations At Kuala Lumpur 2019 Summit

At the on-going 2019 Kuala Lumpur Summit in Malaysia, Iranian President Hassan Rouhani called for the creation of a common cryptocurrency for Muslim countries....

HDFC Bank Joins the League of $100 Billion Market Cap Companies

HDFC Bank Ltd has crossed the $100 billion mark in terms of market capitalization. With this, it has become the 3rd firm in India...

UAE Vows Dh55 Million as Assistance for School Students in Sudan

The UAE has pledged to donate Dh55 million to help school-going children in Sudan. The financial assistance from the Abu Dhabi Fund for Development...