Journey of Success

eFinance was established to create and operate the government's financial network
and become the driving force behind Egypt’s digital transformation agenda

Contracted by the Ministry of Finance to be the government's e-payment hub

Initiated the government payroll project

Executed the first e-tax collection

Built the Treasury Single Account system

Started the Pension Automating Project

eFinance performs Egypt's first electronic payment order

eFinance completes Egypt's first electronic collection for customs

eFinance introduces Corporate Payment Services solutions to the banking sector

Customs Authority Management System was built

Growing the card center's production capabilities

Began operating the fuel control and management system

Providing more services with Egypt Post

Began the Takaful and Karama Project

eFinance establishes the digital infrastructure for the farmer’s card, an essential product that assists farmers in receiving their entitled subsidies and acts as a key vehicle for data collection

eFinance's electronic payment system for the government becomes fully operational

The government issues its last manual cheque

The government financial network is complete

eFinance implements capacity upgrades to the network infrastructure

Implementation of capital increase

eFinance was selected as part of the government's privatization program, providing investors with an opportunity to benefit from Egypt's fast-growing digital sector

eFinance executes EGP 300 million capital increase with an eye to operational expansions and organizational restructuring, in line with the Group value enhancement plan

eFinance reformulates its growth strategy to better position the Group to unlock and capture value in Egypt's digital space

Group spins off lines of business including eKhales, eCards, enable, and eAswaaq into a portfolio of standalone companies

eFinance leverages the global boom in digitization following the COVID-19 pandemic to expand into e-commerce through the launch of eAswaaq

Division of eFinance at holding level into eFinance Digital Operations and eFinance Investment Group

The Historic IPO was completed in October, valuing eFinance at EGP 22.4 billion, and drawing heavy domestic and international interest, with the offering heavily oversubscribed by institutions and retail investors. eFinance closes 2021 with the second-largest market capitalization on the EGX

eTax was launched in cooperation with the Ministry of Finance and the Egyptian Tax Authority to manage and operate the government's electronic tax system and simplify tax processes. eFinance launches eHealth, a platform for the automation and management of Egypt's universal health insurance scheme, in cooperation with the Universal Health Insurance Authority

Purchase of a new HQ building at the Cairo Smart Village to house all eFinance subsidiaries

Renewal of the exclusive payment and collections contract for a period of seven years

General Assembly approves ESOP scheme financed through a 4% capital increase

KSA’s PIF acquires a 25% stake in eFinance, becoming the Group’s single largest shareholder

Launched landmark e-receipt system, and eTax became the sole provider for the e-invoicing system

Secured first-ever contract to connect six million people across five governorates with more than 140 medical units as eHealth gets approval for the first phase of its roll-out

Announced participation in NClude, a venture capital fund aiming to generate long-term capital gains by investing predominantly in early- and growth-stage fintech and fintech-enabled companies based or operating in Egypt and the wider MEA region through a USD 10 million investment

Announced leadership of a USD 3 million financing round for Nexta, a dynamic fintech start-up, which will see the introduction of unique dynamic digital banking services

Established a new line of business for Africa and International Alliances, which will spearhead eFinance’s activity in the region

Signed an MoU in Libya to replicate what eFinance has created for the government’s financial network in Egypt

Secured an agreement with the Tunisian Agricultural Bank to replicate eFinance’s work in the agricultural sector in Egypt

Contracted by the Ministry of Agriculture and Land Reclamation (MALR) to operate the electronic system responsible for managing and governing the trade of fertilizers.

Signed a strategic partnership with Giesecke+Devrient (G+D) Mobile Security Iberia to extend their cooperation on card issuances and digital payment solutions in Egypt.

eTax signed a contract with the Egyptian Tax Authority to establish a standardized system for calculating taxes relating to salaries and wages.

Signed an MoU with Thiqah Business Services in KSA to implement digital solutions, electronic payment services, and integrated technological systems for both the public and private sectors in Egypt and KSA.

Contracted to develop a digital platform for the new National Program for Development of Automotive Manufacturing and Assembly in Egypt with the goal of automating the entire automotive industry.

Signed multiple strategic partnerships in the field of digital banking to facilitate digital transformation of banks in Egypt. 

Chosen to be a part of the prestigious Fortune 500 Arabia list, joining this prestigious ranking in its inaugural edition.