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EgyptEFG Finance Announces Strategic Exit from PayTabs Egypt to Streamline Operations
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EFG Finance is selling its 51% stake in PayTabs Egypt to PT Global Holding.
The financial details of the deal have not been disclosed.
The exit is part of EFG Finance’s broader strategy to streamline its investment portfolio.
The company aims to focus on sustainable growth and financial innovation.
The sale is not expected to have a significant financial impact on EFG Holding.
EFG Finance, the non-banking financial services arm of EFG Holding, has announced its strategic divestment from PayTabs Egypt. As part of its long-term vision to streamline operations and enhance efficiency, the company has agreed to sell its 51% stake in the digital payments platform to PT Global Holding.
While the financial terms of the transaction remain undisclosed, EFG Finance emphasized that the move is in line with its commitment to refining its investment portfolio and channeling resources toward core business areas. The exit is not expected to have a material impact on the group’s overall financial standing.
Alaa El-Afifi, CEO of EFG Finance, described the decision as a pivotal step in the company’s growth strategy. “Our exit from PayTabs Egypt allows us to sharpen our focus on key assets that drive long-term value. This strategic reallocation of resources will enable us to enhance operational efficiency and sustain innovation across our core financial services,” he stated.
Despite this exit, EFG Finance remains committed to expanding its footprint in the financial services sector. The company continues to explore new opportunities in dynamic markets, aiming to deliver innovative financial solutions that cater to both individuals and businesses. By maintaining a strong emphasis on flexibility and customer-centric services, EFG Finance seeks to strengthen its position as a leading player in the evolving financial landscape.
