News & Press Releases

Prime Minister Honors eFinance as part of the National Initiative for Green Smart Projects

eFinance, a subsidiary of eFinance Investment Group, received the honoring of Prime Minister Dr. Mostafa Madbouly during the conference of the National Initiative for Green Smart Projects in the presence of several government ministers and leaders of international organizations in light of the company's efforts and participation in the initiative by replacing cars working with fuel with others that work with natural gas. Prime Minister Dr. Mostafa Madbouly honored Mr. Ibrahim Sarhan, Chairman and CEO of eFinance Investments Group, for its great role in the initiative during which eFinance provided many digital transformation processes and efforts to ensure the facilitation of procedures and the success of the implementation of the system in accordance with the latest digital systems and mechanisms. The ceremony took place in the presence of Dr. Hala El-Said, Minister of Planning and Economic Development, Ambassador Sameh Shoukry, Minister of Foreign Affairs, Dr. Rania Al-Mashat, Minister of International Cooperation, Dr. Yasmine Fouad, Minister of Environment, Dr. Amr Talaat, Minister of Communications, Major General Hisham Amna, Minister of Local Development, Prof. Dr. Mahmoud Mohi eldin, UN Climate Change High-Level Champion for Egypt at COP, and Dr. Maya Morsi, President of the National Council for Women in Egypt. eFinance has played a pivotal role in the construction, management and operation of the natural gas replacement system of cars since its launch, and its social, environmental and industrial dimensions have contributed mainly to reducing carbon emissions and reducing environmental pollution caused by the exhaust of old cars as well as reducing the operating costs of these cars. The Auto Replacement Initiative has so far succeeded in receiving more than 40,000 applications on the website, and more than 21,000 obsolete cars that were a major cause of environmental pollution in Egypt have been scrapped, as well as replacing those cars with environmentally friendly natural gas using ones supporting the economic and social dimension of that initiative. eFinance's efforts towards climate-supporting projects reflects full commitment to the United Nations’ recommendations for climate change, revealing the efforts of the state and its institutions in supporting climate issues over the past years within the framework of Egypt's Vision 2030, and in conjunction with the preparations for the COP27 climate summit hosted by Egypt in Sharm el-Sheikh. Mr. Ibrahim Sarhan expressed the Group's pride in this prestigious honor with a selection of Egyptian government ministers and under the patronage of His Excellency President Abdel Fattah El Sisi, which pushes us all towards more work and dedication in the service of smart green projects, which have long been the basis, goal and common denominator in all the Group's works and projects.
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Egypt's eFinance to increase shares listed on EGX after high demand

eFinance for Digital and Financial Investments, Egypt’s first fintech platform and one of its leading developers for digital payment infrastructures announced on Monday that it has increased the shares that it intends to list on the Egyptian Stock Exchange (EGX) under Egypt’s initial public offering (IPO) program. eFinance will be raising the shares by 26.1 percent of the group’s total shares, offering 417.7 million shares, up from 257.7 million, according to a request the group submitted to the Financial Regulatory Authority (FRA). The group explained in its request that the increase is due to the high demand for the offered shares under the subscription process eFinance initiated last Monday. The FRA has said that it has no objection to increasing the offered shares. eFinance's offering includes a primary issue and sale of up to 177,777,778 ordinary shares on the EGX in addition to a secondary sale by existing shareholders of up to 80 million existing ordinary shares on the EGX.  the IPO offering is set for 18 October. The group’s revenues grew by a compound annual growth rate of 30 percent between 2018 and 2020 to record EGP 1.2 million for 2020 and EGP 904 million for the first half of 2021. Besides being the operator of the government’s financial network through its primary subsidiary eFinance for Digital Operations, the group is also a leader in digital payments, with the largest ecosystem of bill aggregators in Egypt. eFinance’s ‘eKhales’ platform is a central bill processing hub for 13 partners through a network of more than 326,000 point-of-sale machines, in addition to its digital channels, including a mobile app and an online bill payment portal. Furthermore, eFinance is the owner and operator of eAswaaq — the group’s latest venture in the e-commerce space — a digital purchasing platform with over 300,000 merchants specializing in agriculture, commerce, industry, and tourism. eFinance also owns a business process outsourcing (BPO) company called enable, which provides solutions from human resources and information technology outsourcing to full contact center services, fielding more than 1.5 million calls per month. The group’s earnings before interest, taxes, depreciation, and amortization grew by 35 percent to EGP 465 million. eFinance is the second state-owned company to list its shares under Egypt’s IPO program after the successful offering of the Eastern Company for Tobacco in 2019.
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EFIG plans to invest over EGP 2BN in next two years

Ibrahim Sarhan, the Chairperson of EFIG, revealed that the company plans to invest EGP 2bn over the next two years, pointing out that these investments are the outcome of the company’s capital increase. part of those investments will be allocated to expanding non-banking financial activities through eKhales Digital Payments, and another part will be directed to developing the group’s technological infrastructure. He pointed out that eKhales has submitted a request to the Financial Regulatory Authority (FRA) to obtain a license to practice microfinance and consumer finance. Sarhan also revealed that his company achieved a growth rate of more than 40% last year, pointing out that the company invested about EGP 250m in the digitization of the transportation sector through its subsidiary eCards. The company is expected to inject the same rate of investments this year and penetrate the tourism sector through the company eAswaaq and invest in new digital solutions for the Ministry of Tourism and Antiquities. In a related context, he explained that the agreement signed to digitize medical services in Zimbabwe with TGI is the first step toward operating in African countries. He pointed out that the company also sees promising opportunities in Libya and Iraq during the coming period. Sarhan pointed out that penetrating the African market came after a study that emphasized the importance of having a partner in those countries, which is the appropriate business model. Additionally, the partnership will provide services in six other countries besides Zimbabwe. He revealed that the product provided is not limited to launching cards, but also includes integrated digital solutions specialized in healthcare. He noted that these services are similar to the digital solutions provided to the eHealth platform of eFinance Holding. The company will manage these cards through the technological infrastructure of eCards, which represents one of the company’s strategic goals in its expansion policy in Africa.
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eFinance honors Egypt's handball champions and signs agreement to renew sponsorship of the National teams

eFinance has honored Egypt's national handball team for winning the 2022 African Handball Cup for the second time in a row and the eighth in its history. The group announced in a statement that Egypt's wheelchair handball champions were also honored for winning the silver medal in the World Championship as part of the group's sponsorship of the handball teams. A major ceremony was organized by the group in honor and presence of Dr. Ashraf Sobhy, Minister of Youth and Sports, Dr. Mohamed El-Amin, President of the Egyptian Handball Federation, and Ibrahim Sarhan, Chairman and Managing Director of eFinance. During the ceremony, a cooperation agreement was signed between eFinance and the Egyptian Handball Federation to cooperate in the sponsorship of handball teams for the period from 1/1/2023 to 31/1/2024, including all its teams- juniors, men, and wheelchairs.   The group pointed out that the signing of the agreement comes as a continuation of the supporting leading role provided by Egyptian handball during the past period, which resulted in the national team winning the title of African champion, the arrival of the girls’ junior team to the quarterfinals of the World Championship, the wheelchair team obtaining the silver medal in the World Championship and the boys’ junior team obtaining the African Championship in Rwanda. Dr. Ashraf Sobhi, Minister of Youth and Sports, praised the good performance of the handball champions for their well-deserved victory in the African championship, as well as the silver medal victory of the wheelchair champions in the world championship, and reassured that he’s confident in everyone’s abilities, continuous success, and achievements in all upcoming championships under the distinguished and renewed care. For his part, Ibrahim Sarhan, Chairman and Managing Director of eFinance, said that the group continues to fully support all national efforts at various economic, sports, and social levels, confirming Egypt's leading role in all fields and at all local, regional, and global levels.   He added that the support of eFinance comes out of the Group's belief in the importance of Egyptian sport as one of the tributaries of the Egyptian economy and one of the main pillars of the integration of government and community effort to advance the development of society and meet the objectives of the Sustainability Strategy – Egypt 2030. He expressed his happiness with the success of the sponsorship provided by the group to the national handball teams and appreciated the efforts of all participants and those in charge of sports in Egypt, men, junior players, wheelchair champions, all athletes who won championships and those who were not as lucky. Dr. Mohamed Amin, President of the Egyptian Handball Federation, expressed his pride in the sons of Egypt and its champions, who deserve the full support of all sides, especially after achieving prestigious international successes under the distinguished and renewed sponsorship of the group.  
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eTax, eFinance and the Egyptian Tax Authority sign the “Unified Payroll Tax Calculation” contract

EFIG Signs a strategic Partnership With G+D To Extend their cooperation on Cards Issuance and Digital Payment Solutions

eFinance signs an MoU with the Ministry of Agriculture and Agricultural Associations to develop and digitalize the system of the agricultural fertilizer industry

Ibrahim Sarhan wins the seat of the listed companies in the investor protection fund

EFIG celebrates the first phase completion of Alfarisiyah renovations in Luxor as a part of its ongoing CSR plan

The Ministry of Planning and Economic Development assigns the management and operation of “Khadamat Misr” to eFinance