EFG Holding, a financial institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA), announced today its results for the full year ended 2023. The Group booked its highest-ever recorded revenues of EGP 14.7 billion, representing a 34% Year-on-Year growth, fueled by the stellar performance of its Investment Bank’s (EFG Hermes) sell-side and buy-side, Valu, and its commercial bank arm, aiBANK.
EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA), announced today that it concluded advisory on a merger and acquisition (M&A) deal for Cenomi Retail, the largest franchise retailer in the Kingdom of Saudi Arabia. The retail giant has agreed to sell a select portfolio of brands to Abdullah Al-Othaim Fashion Company, a fully owned subsidiary of Abdullah Al-Othaim Investment Company.
The EFG Foundation for Social Development (EFG Foundation), a non-profit, non-governmental organization that supports sustainable, high-impact development initiatives to assist local underprivileged communities, announced today the signing of a tripartite agreement with Luxor Governorate and University's Faculty of Fine Arts. This collaborative effort aims to spearhead development projects in Al-Deir village, a community affiliated with the Esna Center in Luxor Governorate.
EFG Finance, the non-bank financial institutions (NBFI) arm of EFG Holding, announced today that it has obtained the required license from the Financial Regulatory Authority (FRA) to introduce its newest subsidiary that will provide financial services tailored for small and medium enterprises. The company is poised to complement EFG Finance's core offering by catering to the financing needs of small and medium-sized enterprises (SMEs) in Egypt. The new venture is anticipated to be launched in the second quarter of this year.
Tanmeyah, is a subsidiary of EFG Holding and a leading provider of financial services in Egypt with a concerted focus on the micro and small enterprise segments, announced today a collaborative agreement with the Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) for the formalization of a strategic contractual agreement valued at EGP 200 million. This collaboration is dedicated to financing micro-enterprises and demonstrates Tanmeyah’s solid commitment to enhancing financial inclusion and delivering essential financial services across Egypt in alignment with governmental initiatives.
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), in collaboration with the Dubai Financial Market (DFM), inaugurated the 18th Annual EFG Hermes One-on-One Conference on March 4th, 2024. The signature event, which today stands as the world's largest investment forum dedicated to MENA, will run until March 7th, 2024, at the JW Marriott Hotel Marina.
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), in collaboration with the Dubai Financial Market (DFM), inaugurated the 18th annual EFG Hermes One-on-One Conference today, the world's largest investment forum dedicated to MENA. The event will take place from March 4th to 7th, 2024, at the JW Marriott Hotel Marina (formerly Address Dubai Marina) in Dubai.
PayTabs Egypt, MEASA’s award-winning payments powerhouse, announced today a strategic partnership with Souhoola, a popular BNPL platform in Egypt. This collaboration aims to offer a new BNPL payment method for PayTabs Egypt merchants, increasing the range of payment options offered online.
EFG Hermes, the leading investment bank in Frontier and Emerging Markets (FEM) under EFG Holding and Palm Hills Developments (PHD), a leading real estate developer in Egypt jointly announced today the successful closing of an EGP 421 million securitized bond, the second issuance in a newly approved EGP 5 billion program.
Tanmeyah, a subsidiary of EFG Holding and a leading provider of financial services in Egypt with a concerted focus on the micro and small enterprise segments, announced the launch of its mobile application. This development represents Tanmeyah's steadfast commitment to delivering secure, convenient, and customer-centric financial solutions.
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