Vodafone Egypt acquires 20% of the shares of Masary and Bee digital financial services companies
Vodafone Egypt and Ebtikar Holding Company for Financial Investments, represented by the two companies, Masary for electronic payments, signed a memorandum of understanding, and this came in preparation for Vodafone Egypt’s subscription to increase the capital of Bee and Masary for banking services with a 20% share in both companies. This step is expected to contribute to The growth of the volume of business accelerated, and the contribution to the development of the work system and services provided by the two companies while benefiting from the expertise of Vodafone in the continent of Africa.
Mohamed Abdullah, CEO of Vodafone Egypt, said in a press release, saying: “We seek to invest in Egypt, and today we are taking an important step that is the beginning of a promising investment plan that confirms Vodafone’s confidence in the Egyptian economy and market.
Abdullah added: “Choosing the field of digital payments services comes in line with Vodafone Egypt’s constant interest in developing and diversifying the services provided to customers, and also providing new opportunities for distributors and our partners to succeed, to increase distribution outlets and spread services, which gives the customer a better experience in the field of digital transactions and services.”
This comes as confirmation of Vodafone's desire to increase its investments in the Egyptian market, especially in the field of digital transformation, and to achieve financial inclusion in Egypt, as the President of Vodafone International indicated during his previous interview with Egyptian President Abdel Fattah El-Sisi about the possibility of Egypt being an important center in the continent of Africa. To provide digital transformation services and exchange experiences in this field at the regional level, in order to achieve the country's 2030 vision.
