Cairo, March 6, 2025
EFG Finance, an EFG Holding company and its non-bank financial institution’s arm, has announced its strategic divestment from PayTabs Egypt as part of its ongoing initiative to streamline operations and achieve greater efficiencies across its portfolio. EFG Finance will sell its 51% stake in PayTabs Egypt to PayTabs Global for an undisclosed amount, which is not expected to have a material impact on the Group’s financial position.
Aladdin ElAfifi, CEO of EFG Finance, commented: “Our divestment from PayTabs Egypt represents a strategic step in refining our operational focus. By reallocating resources from non-core assets, we enhance our ability to drive sustainable growth and innovation in key areas. This decision aligns with our long-term strategic objectives and commitment to delivering value to our stakeholders.”
EFG Finance will continue to explore opportunities that align with its mission of providing innovative financial solutions in a dynamic market environment. The vertical remains dedicated to focusing its efforts on delivering comprehensive financial services to clients, both individuals and businesses of all sizes. By prioritizing innovation and adaptability, EFG Finance aims to equip its clients with the tools and solutions they need to thrive in an ever-changing economic landscape. This commitment to excellence ensures that EFG Finance will consistently offer tailored and cutting-edge financial products that support growth and success.
About EFG Holding
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) – the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.
EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, Fatura, a technology-backed B2B marketplace and EFG Finance SMEs which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.
Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria
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