Ibrahim Sarhan

Despite harsh market conditions, we were able to weather the storm and emerge triumphant, accomplishing our best operational performance to date, and further cementing our position as the driving force behind Egypt’s digital transformation revolution


2020 showcased our exceptional capacities to identify and swiftly capture opportunities that unlock and maximize value for governments, businesses, and individuals across the digital space. Despite harsh market conditions, we were able to weather the storm and emerge triumphant, accomplishing our best operational performance to date, and further cementing our position as the driving force behind Egypt’s digital transformation revolution.

We kicked off the year having recently adopted a new strategic direction to bolster the company’s core competencies as the backbone of the government’s financial network and to better position it to penetrate Egypt’s thriving digital retail segment. In parallel, we had made considerable investments to expand and strengthen our operational capacity, including our network infrastructure, digital platforms, card production and support services.

We had also initiated a corporate restructuring initiative aimed at reaching an optimal organizational structure that allows eFinance Investment Group (EFIG) and its subsidiaries to effectively capture market opportunities with tailor-fit growth strategies.

Our strategic kick off took place end of 2019 marking several milestones in e-finance’s transformational journey, kicking off a strategic restructuring to maximize the company’s value while maintaining operational excellence and delivering a solid financial performance.

by in the beginning of 2020, we spun off our retail network KHALES into a separate entity, arming it with new strategies to capture the growing opportunity in the B2C and B2B2C e-payment space. Then again spinning off our cards business under a new entity, eCards – Integrated Smart Solutions, to provide it with the necessary resources to establish itself as the leading card production and management company and supplier of third-party processing services in Egypt. We also established eAswaaq Misr as a developer of e-commerce platforms and specialized marketplaces. eAswaaq Misr offers enterprise marketplace management, micro-lending services, seizing the market expanding and exporting opportunities, with an initial focus on Egypt’s thriving agriculture market, leveraging on eFinance’ s expertise in digitizing the farmers’ subsidies program to launch its agriculture platform, AgriMisr.

By the end of 2020 we saw the importance of spinning off our contact center solutions line of business and the establishment of ‘enable’ as a complete business process outsourcing company to serve the expanding market opportunity in BPO both locally and internationally. Finally, we saw it a prudent to further our restructuring drive by spinning off our core network infrastructure development and management services under eFinance, and the establishment of a group company structure to consolidate all our now market-focused subsidiaries under eFinance Investment Group. This strategic restructuring of our lines of business allowed us to stand perfectly poised to further expand our presence across B2G, B2B and B2B2C and B2C markets.

COVID-19: Turning Crisis to Opportunity

With the onset of COVID-19 early on in 2020 and with it an array of public health measures across the globe and in our home country of Egypt, our focus initially pivoted to risk management and ensuring business continuity. we were quick to develop strict health and safety measures and protocols across the entirety of the organization, including in-office staff rotation to abide by social distancing measures, allowing work from home where possible and relaxing our paid sick leave policies to limit the risk of infection. We also assessed our liquidity needs to strengthen our financial position, namely enacting optimization and control measures for the company’s accounts receivables and postponing the distribution of dividends to shareholders and allocating excess funds to other priority areas.

Most importantly, as a “tech-celeration” trend swept across both public and private organizations with the aim of ensuring continued busines activity in a safe and responsible manner, demand for digital transactions and e-commerce capabilities surged. This droves the Egyptian government to accelerate the development and expansion of its existing digital platforms and channels with its already established national digital agenda “Egypt Vision 2030”. We thus saw an opportunity for our company to rise to the challenge and support our nation’s economy while safeguarding the safety of its citizens. As such, we began to outline all our services, projects, signed contracts and agreements that were active in the pipeline and performed multiple internal audit and risk management procedures to highlight any inefficiencies with the purpose of decreasing time-to-market. I am pleased highlight that thanks to e-finance’s strengthened capabilities, optimized organizational structure and clearly defined growth strategies, our corporate was well-positioned to capture the opportunity. We managed to absorb a considerable growth momentum in our target markets all while driving deeper penetration and maximizing value generation across all market channels.

Results-Driven Performance

Our business development and strategic strides propelled eFinance’ s consolidated operational performance to new heights. We are particularly proud of our fast-growing operational capacity and KPIs, which signal a continued success in helping facilitate safe and efficient payments across the digital space and driving economic growth. This is particularly true during these an unprecedented time with significant challenges affecting business across the world.

Our strategic and corporate transformation was also accompanied by strong financial and operational results, with revenues up by a CAGR of 30% from EGP 733 million in 2018 to EGP 1,232 million in 2020 and recording EGP 904 million in H1-2021. Meanwhile net profit doubled in value during the same period from EGP 176 million in 2018 to EGP 352 million in 2020 with the net profit margin climbing by five percentage points to record 29% in 2020 (2018: 24%). The group reported a net profit of EGP 276 million in H1-2021, representing a net profit margin of 30.5%.

Our strong performance continues to be guided by our steadfast commitment to best-in-class corporate governance structure and frameworks that ensure continued adherence to regulatory laws and regulation, and that promote ethical, responsible, and transparent busines practices. As such, our board of Directors and committees continuously assess our group’s governance policies, charters, and methodologies to minimize risks and to continue delivering sustainable value to all our stakeholders.


Our corporate structure allows eFinance Investment Group to boast a comprehensive portfolio of five subsidiaries, each with its own tailor-fit growth strategy and innovative digital payments solutions and services.

Our Group’s business model will see us benefit from cross-portfolio synergies and integration and allow us to maintain a ubiquitous presence across the Egyptian digital space and its various payment and collection channels. In parallel, the mother company will hone its focus on identifying strategic investments and potential expansion opportunities within the Company’s borders and beyond. eFinance Investment Group will primarily focus on investments that support financial inclusion initiatives to empower Egyptian citizens by introducing innovative digital solutions for everyday services, including new markets such as transportation, healthcare, and tourism.

Overall, I am confident that eFinance Investment Group stands will continue to maintain its market leadership position being the Digital Partner of Choice for the Egyptian government and ready to capitalize on the market’s larger appetite for digital services, powered by our optimized corporate structure, clearly defined growth strategies and expanding operational capacity.

Ibrahim Sarhan