News & Press Releases

<Back

eTax, eFinance and the Egyptian Tax Authority sign the “Unified Payroll Tax Calculation” contract

Partnerships & Agreements

eTax and eFinance celebrate the signing ceremony of The Unified Payroll Tax Calculation Contract with eTax’s strategic partner, the Egyptian Tax Authority.

The new system aims to achieve full transparency regarding the method and criteria for calculating taxes on wages and salaries to be done completely digitally in accordance with its rules and laws and under the supervision of the Egyptian Tax Authority and the Ministry of Finance, in order to achieve the principle of tax justice, and also aims to mitigate risks, operational costs and accumulations associated with the examination of wages and salaries tax, and work to reduce the existence of discrepancies  by increasing accuracy and commitment to calculating and paying tax, reducing the administrative burden and reducing the cost of transactions and the need To archive documents on paper.

 

 

The head of the Egyptian Tax Authority, "Mokhtar Tawfik", explained that according to this contract, eTax will provide development, operation and support services for the main system applications, field technical support services for the ETA's employees in coordination with the Egyptian Tax Authority, and data analysis operation services, noting that eFinance will provide technical hosting services for system applications, technical operation services, telephone technical support services, and field technical support services for financiers in coordination with the ETA. Egyptian taxes, information security services, as well as services for integration, development, operation and support of auxiliary systems applications, project management services, electronic collection, and financial settlement reports for subscription services in the system of calculating wages and salaries tax.

The agreement was signed by Khaled Abdel Ghani, Managing Director of eTax and Mokhtar Tawfik, Head of the Egyptian Tax Authority, in the presence of Reda Abdel Qader, Assistant Minister of Finance for Tax Authority Affairs, and Ibrahim Sarhan, Chairman of the Board of Directors of EFIG.

 

Related News

eNovate Partners with NymCard to enhance Card Production Services Across MENA

eNovate, a subsidiary of eFinance Investment Group and Egypt’s leading card manufacturing and personalization services provider announced a strategic partnership with NymCard, the leading payments infrastructure provider in the MENA region. This partnership aims to complement NymCard's comprehensive payment solutions by integrating eNovate's advanced card production and personalization capabilities.The partnership is considered a step forward towards NymCard comprehensive financial solutions offered to their clients, covering card issuance and processing, alongside card production and personalization services offered by eNovate. This integrated approach streamlines the payment card lifecycle for NymCard partners across the region.“Our collaboration with eNovate creates a one-stop solution that addresses all of our partners’ payment needs,” said Omar El Moataz, NymCard Country Manager. “This partnership reinforces our commitment to providing comprehensive payment solutions while simplifying the operational complexity for our clients.”Ms. Nashwa, CEO of eNovate, added, “We are proud to partner with NymCard to complement our payment card services in the region. This collaboration reflects our commitment to delivering state-of-the-art card production and personalization solutions, ensuring high-quality services for our partners and their customers. Together, we aim to deliver an exceptional payment experience that meets the growing market demands.”eNovate brings its extensive experience in digitizing payment systems for major national projects, including the Takaful and Karama program, the Farmer's Card system, the management of Egyptian pension cards, and various other initiatives in both the public and private sectors.This partnership combines NymCard's advanced payment infrastructure with eNovate’s state-of-the-art card manufacturing, personalization and value-added payment solutions providing partners with a unified solution for their payment card programs.

eFinance Partners with Dell Technologies to Launch AI-Ready Cloud Platform in Egypt

eFinance has signed a memorandum of understanding with global tech leader Dell Technologies to launch an AI-ready cloud platform in Egypt, aimed at accelerating AI-driven innovation for businesses across the country.The agreement was signed during the 28th edition of Cairo ICT 2024, held under the patronage of President Abdel Fattah El-Sisi, at the Egypt International Exhibition Center, with the support of Dr. Amr Talaat, Minister of Communications and Information Technology.The partnership was formalized by Mr. Ibrahim Sarhan, Chairman and CEO of eFinance Investment Group, and Mohammed Amin, Senior Vice President for Central Eastern Europe, Middle East, Turkey, and Africa (CEEMETA) at Dell Technologies.This groundbreaking collaboration aims to redefine the cloud computing landscape by offering businesses advanced solutions specifically designed to manage high-performance AI workloads. "The launch of this platform marks a new chapter in cloud computing in Egypt," said Mr. Ibrahim Sarhan. "We are empowering companies to harness the transformative potential of artificial intelligence to drive efficiency and innovation."Mohammed Amin highlighted the platform's scalability, seamless integration, and exceptional performance. "Together with eFinance, we are setting a new benchmark for intelligent cloud computing in the region, helping organizations unlock the full potential of AI for growth and innovation," he added.This collaboration positions Egypt as a hub for advanced AI and cloud technologies, supporting the nation’s digital transformation goals.

EFIG and Cassava Forge Partnership to Expand Digital Solutions Across Africa

eFinance Investment Group and Cassava Technologies partner to leverage expertise, advancing digital transformation, financial inclusion, and innovative solutions across Africa and the MENA region, starting with Egypt.eFinance Investment Group and Cassava Technologies have signed an agreement to explore and identify opportunities for collaboration and joint expansion across Africa. The signing ceremony took place during the 28th Cairo ICT Exhibition and Conference, held under the auspices of President Abdel Fattah El-Sisi.The plan is to leverage each other’s respective strengths and experience. Cassava Technologies will bring its extensive African footprint, infrastructure, and continental experience, whilst eFinance will bring its strong market presence and reputation as Egypt’s foremost leader in digital transformation.This collaboration aims to introduce innovations to the Egyptian market, drawing on eFinance’s robust presence and trusted reputation and Cassava Technologies’ pan-Africa reach and global partnerships.Cassava Technologies, headquartered in the UK, is a global technology leader of African heritage, with presence across Africa, the Middle East, Latin America and the United States of America. Its portfolio includes fiber broadband networks, satellite communications, data centers, renewable energy solutions, financial technology, digital platforms, artificial intelligence, as well as cloud and cybersecurity services.eFinance Investment Group is a developer of digital payments infrastructures that was established in 2005 to develop the Government of Egypt’s financial network. Over the course of nearly two decades, the Group has penetrated all corners of Egypt’s digital market and transformed itself into a leading technology-focused investment firm. With a dynamic business model and a flexible organizational structure, eFinance is able to focus on multiple target markets through its subsidiaries and maximize its ability to unlock value in the digital payments space. The Group boasts a portfolio of subsidiaries that has enabled eFinance’s growth across multiple markets, unlocked synergies across its business lines, and enabled digital transformation for various strategic sectors throughout the nation to support the development of Egypt’s digital economy and drive towards financial inclusion.Ibrahim Sarhan, Chairman and CEO of eFinance Investment Group, expressed his pride in partnering with Cassava Technologies, a global leader renowned for its extensive technological solutions and infrastructure across Africa. He emphasized that this collaboration represents a significant milestone in offering a unique range of joint services across the African continent, with a particular focus on the Egyptian market, where eFinance continues to lead the digital enablement for financial access across various industries and sectors.“eFinance has a track record of success in driving digital transformation in Egypt which is truly commendable. This collaboration between Cassava Technologies and eFinance Group will accelerate the adoption of digital solutions in Egypt and the MENA region. eFinance’s experience across key sectors in Egypt make them an ideal partner for us as we expand our presence in Egypt and the region. This partnership further enhances our ability to deliver on our vision of a digitally connected future that leaves no African behind.”– Hardy Pemhiwa, President &amp; Group CEO, Cassava Technologies&nbsp;
Read More