Jumia, the leading e-commerce platform in Egypt, JumiaPay the fintech electronic payments platform, and valU the leading Buy-Now Pay-Later (BNPL) fintech platform in the Middle East and North Africa, have signed agreements to enable valU to become a payment solution via Jumia and JumiaPay.
EFG Hermes Holding informed shareholders today that it has completed its transformation into an Egyptian universal bank with a market-leading frontier emerging markets (FEM) investment banking platform. The news comes as the Firm has finalized its acquisition of a 51% stake in the Arab Investment Bank (aiBANK), marking a strategic entry into the fast-growing and solid Egyptian commercial banking sector. The transaction will see EFG Hermes Holding assume control of aiBANK, with TSFE Financial Services & Fintech Subfund, a subfund fully owned by the Sovereign Fund of Egypt, EFG Hermes Holding’s valued partner, acquiring a 25% stake.
EFG Hermes Holding, the leading financial services corporation in Frontier Emerging Markets (FEM), announced today its results for the first nine months of 2021, with revenues rising 8% over the same period last year to EGP 4 billion and its net profits jumping 26% Y-o-Y to reach EGP 1.1 billion.
The agreement capitalizes on valU’s pioneering efforts in helping its clients achieve their desired lifestyles through the provision of home improvement and finishing financing as well as Misr Italia’s commitment to providing clients with solutions that meet their needs
EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), announced today that its Investment Banking division successfully completed advisory on Fertiglobe’s USD 795 million Initial Public Offering (IPO) on the Abu Dhabi Exchange (ADX) – one of the largest ever listings on the bourse and the first ever listing of a free zone company onshore in the UAE.
valU, MENA’s leading buy-now pay-later (BNPL) fintech platform, is honored to have been recognized as the Fintech Company of the Year at the first Gulf Business Tech Awards 2021 during a ceremony hosted at the Dubai World Trade Centre on the 20th of October held during Gitex Technology Week. The judging panel included industry experts from esteemed GCC organisations including Dr. Lt. Hamad Khalifa Al Nuaimi, Head of Telecommunications Division, ICT Centre, Abu Dhabi Police HQ and Dr. Jassim Haji, President, Artificial Intelligence Society, Bahrain along with the Gulf Business technology team, all of whom were present at the ceremony.
valU, Egypt’s leading Buy-Now Pay-Later (BNPL) fintech platform, is proud to announce that it was recognized as the “Fintech Company of the Year” at the Tech Innovation Awards 2021, hosted by Entrepreneur Middle East of BNC Publishing on 6th of October at the Raffles Hotel in Dubai. valU was lauded for its outstanding achievements and growth, with over 170,000 users now registered on the platform and more than 400,000 transactions in excess of EGP 2 billion conducted since inception.
EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), announced today that its Investment Banking division successfully completed advisory to ACWA Power on its SAR 4.5 billion (USD 1.2 billion) initial public offering (IPO) on the Saudi Stock Exchange (Tadawul). EFG Hermes served as joint bookrunner and underwriter on the transaction.
EFG Hermes Corp-Solutions, among the leading leasing and factoring companies in Egypt, announced today that it signed a sale & lease back agreement with leading real estate development firm Misr Italia Properties for refinancing its state of the art property-Garden 8 Mall, amounting to EGP 750 million.
Vortex Energy, a global renewable energy platform managed by the private equity arm of EFG Hermes, has entered into a definite agreement with Ignis Energy Holdings, parent company of Spanish independent integrated renewable player Ignis Group.
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