eFinance, EFIG’s subsidiary & Egypt's leading financial technology company specializing in digital solutions and electronic payment services, signs a Memorandum of Understanding (MoU) with Saudi Arabia’s National Security Services Company (SAFE), a subsidiary of the Public Investment Fund. This partnership marks a strategic step towards enhancing financial technology and security services in the region.  The announcement was made during the 28th edition of the Cairo ICT International Technology Conference and Exhibition for the Middle East and Africa, held under the patronage of His Excellency President Abdel Fattah El-Sisi. This collaboration aligns with eFinance’s strategic initiative to support financial institutions in adopting outsourcing solutions for managing ATM services, point-of-sale (POS) devices, and cash deposit machines. Both companies will also explore joint solutions in cloud computing and international money transfer services between Egypt and Saudi Arabia.  The MoU was signed by Eng. Hossam El-Goly, eFinance's CEO, and Mr. Turki bin Maatouq Al-Thonayan, CEO of SAFE, in the presence of Mr. Ibrahim Sarhan, Chairman & CEO of eFinance Investment Group.Under this agreement, eFinance will leverage its expertise to provide advanced cloud hosting, operational services, and technical support tailored to financial institutions while SAFE will supply specialized equipment and experts, enabling the development of integrated solutions across ATM, POS, and cash deposit services.  The partnership aims to combine SAFE's security-focused innovations with eFinance's technological expertise to develop comprehensive solutions that meet the demands of financial institutions. This cooperation is designed to foster seamless integration of technology and security while supporting the economic visions of both nations—*Saudi Vision 2030* and *Egypt Vision 2030*.   

eAswaaq Misr, EFIG’s subsidiary, in collaboration with Post for Investment, has launched the 'African eCommerce Platform' company to develop and operate specialized marketplaces. This initiative targets the business market in Africa, collaborating with local and regional projects from both the private and public sectors. The goal is to create new avenues for cooperation at the continental and regional levels, encourage investment, and support foreign currency inflows.ECOM Afrika focuses on developing, and operating specialized marketplaces, which includes design, development, operation, management, and maintenance. It also involves marketing e-commerce platforms and applications, creating databases, providing value-added services, electronic payment services, financing, and organizing exhibitions and conferences.The platform aims to overcome the challenges facing e-commerce in African countries and enable Egypt to become the e-commerce gateway for various African nations, leveraging its strategic geographic location to provide logistics services. Additionally, a key component of the company's plan for expanding e-commerce markets and accomplish overall growth is Egypt's leadership in the expansion of the technology industry among African nations.The strategy of ECOM Afrika includes collaborating with all relevant stakeholders at the local and regional levels, working to develop the technological ecosystem, and benefiting from the advancement of consumer protection laws. This is supported by the robust legal framework for e-commerce, along with promoting digital culture and enhancing electronic payment systems.The company aims to leverage the extensive and diverse expertise of its shareholders. This includes the significant experience of the eFinance investment Group in developing technological infrastructure, the digital financial transaction market, and building and managing specialized e-commerce markets. Additionally, it draws on the long history of the Egyptian Post in financial services and value-added services, as well as its role in providing logistics for African countries by consolidating and redirecting incoming parcels to all African nations through the logistics hub in Cairo.The African E-Commerce Platform has announced the appointment of a new executive leadership team as part of its efforts to connect small and medium-sized enterprises across the Africa with various markets. The team consists of CEO Mr. Sherif Shaheen and Executive Chairman and Board Member Mr. Ahmed Abdeen, who will lead the company in achieving its strategic objectivesMr. Ibrahim Sarhan, Chairman of eFinance investment group, stated that the group has much to offer to serve various African countries, including transferring expertise and training African professionals to utilize the latest technologies in digital transformation, electronic payments, and e-commerce. This will be achieved through collaboration with major, reputable financial and service institutions such as the Egyptian Post, enabling the creation of new, integrated digital financial products to meet the needs of African markets.Mr. Abdo Alwan, Acting Chairman of the National Postal Authority of Egypt, noted that the Egyptian Post possesses numerous skilled professionals and extensive experience in serving African markets, continually striving to enhance these services in line with the technological advancements and digital transformations led by Egypt in Africa. This includes creating and innovating comprehensive new services in collaboration with the eFinance Group and eAswaaq Egypt, leveraging their significant capabilities and successful experiences in payments and e-commerce.Mr. Sherif Shaheen, the new CEO, commented on this initiative, saying, 'This is a unique opportunity to leverage Egypt's capabilities and facilities to enhance trade in the African market. We are committed to providing fair business opportunities for small and medium-sized enterprises in the targeted markets.Eng. Ahmed Abdeen, the new Executive Chairman, expressed his excitement for the upcoming phase, stating, 'We are eager to start realizing the ambitious vision of the company’s founders. Despite potential challenges, we are confident in our ability to overcome them. We are committed to delivering exceptional services and solutions to our stakeholders, reinforcing the position of the African E-Commerce Platform as a key partner in the African business-to-business market.As the African E-Commerce Platform approaches the launch of its official platform, the company remains dedicated to empowering small and medium-sized enterprises and fostering their growth in competitive markets, enhancing its role as a central player in the African trade ecosystem."the Shareholders of the African E-Commerce Platform:•    Postal Investment Company: A private investment firm affiliated with the National Postal Authority of Egypt, focusing on enhancing sustainable development in Egypt through strategic investments.•    eFinance: A leading fintech company listed on the Egyptian stock exchange, contributing to digital transformation in Egypt through innovative financial solutions.•    eAaswaaq: A subsidiary of eFinance, dedicated to revolutionizing the digital market in Egypt by connecting buyers and sellers through innovative platforms. 

eFinance Investment Group, one of Egypt’s leading developers of digital payment infrastructures, has signed a Memorandum of Understanding (MOU) with Software Group, a global technology company specialized in digital banking solutions and financial inclusion, to encourage the adoption of digital financial technologies, Agent Banking, along with cloud computing services and artificial intelligence. The MOU, which was signed during the 27th edition of Cairo ICT 2023 Middle East and Africa Exhibition and Conference, is part of EFIG’s plan to empower banks and financial institutions in Egypt by providing a wealth of solutions and services including agency banking services widening the access of financial services to mass market, while focusing on rapid time to market. This Partnership is capitalizing on the capabilities of SW Group Agency Banking Technology aiming to contribute to the Central Bank of Egypt’s strategy for financial inclusion and national economic development under the 2030 Vision. Furthermore, the partnership augments EFIG’s vision to be an enabler, not only for Digital Banks, but also for Banks and NBFIs who wish to become more digital. The aim is to provide pre-built building blocks and make them available to achieve faster time to market and high value for customers. This Financial Services Platform is compatible with the banking regulatory instructions published by the Central Bank of Egypt and the Financial Regulatory Authority, allowing EFIG to provide a wealth of components in Banking-as-a-Service (BaaS) model on its Sovereign Public Cloud. eFinance’s ability to operate national-scale end-to-end mission-critical solutions is one of its kind; It is considered one of the top unique values that eFinance provides for its customers. Software Group will capitalize on its technology and expertise necessary to build technological solutions for the financial sector. The company’s DigiWave Digital Banking Platform will serve as the foundational system, complemented by its off-the-shelf digital channel solutions including agency banking, mobile and internet banking, loan origination with credit scoring, mobile card applications and digital wallets, factoring, enterprise integration, and more. EFIG and Software Group are developing a commercial model to support the development and management of all digital banking and financial components.  Further, the two companies will partner to market, and cooperate with banks and financial institutions in Egypt and beyond to enhance financial inclusion and reduce the costs incurred by banks in leveraging new technologies, opening new branches, and reaching underserved customers in remote locations. While commenting on the partnership, eFinance Investment Group Chairman and CEO, Ibrahim Sarhan, said, the Egyptian market is evolving and we are working on empowering financial and non-financial institutions to respond innovatively to this rapid change  by providing a full spectrum of digital financial service activities, supported by huge investments and a giant infrastructure established by eFinance Investment Group aiming to accelerate the digitization of economy. He further added that the group continuously seeks enrichment of its capabilities by forging partnerships to provide digital financial solutions that are first of its kind in the Egyptian market. “The group is proud of its partnership with Software Group, a global company and a leader in its field. The cooperation will result in the provision of a diverse and new set of digital financial services to the banking and financial sectors considering the continuous development and modernization of various regulations, controls, and laws led by the Central Bank of Egypt and the Financial Regulatory Authority to support and enhance digital financial inclusion and make more innovative financial tools available,” stated Ibrahim. Also commenting on the partnership, Software Group CEO, Kalin Radеv expressed his pride in partnering with EFIG due to its great experience in digital transformation and financial inclusion within Egypt. “We are thrilled to collaborate with eFinance Investment Group in this strategic partnership that accelerates financial inclusion in Egypt and supports the realisation of the country’s Vision 2030. The synergy between EFIG's industry and market expertise and Software Group's global experience and proven digital banking solutions, positions us to drive the nation forward into a digital era of financial inclusivity and sustainability,” said Kalin.