Vodafone Egypt has signed a Memorandum of Understanding to acquire a 20% stake in Ebtikar's Bee and Masary, leading to a significant investment in the Egyptian digital financial services sector.

Information on the Target

Vodafone Egypt has entered into a Memorandum of Understanding (MoU) with Ebtikar Holding for Financial Investments S.A.E., the parent company of the digital financial services providers, Bee and Masary. The agreement outlines Vodafone Egypt's intention to participate in a capital increase in both companies, acquiring a 20% stake in each. This strategic move supports Vodafone Egypt's commitment to enhancing its investments in the Egyptian market and expanding the availability of digital financial services for both consumers and businesses.

Bee and Masary are leading e-payment companies in Egypt, with over ten years of operational experience. They collectively offer more than 800 payment services across a network of over 110,000 points of sale. Their contributions align with the directives of the Supreme Council for Electronic Payments and the Central Bank of Egypt, promoting digital transformation and financial inclusion initiatives.

Industry Overview in Egypt

The Egyptian digital financial services sector is poised for significant growth, driven by increasing smartphone penetration and a youthful population that is tech-savvy. The government is actively promoting financial inclusion, with