EFG Finance Announces Divestment from PayTabs Egypt for Operational Efficiency
Deal News | Mar 06, 2025 | Zawya
EFG Finance, a subsidiary of EFG Holding, has announced a strategic divestment from PayTabs Egypt, selling its 51% stake to PayTabs Global. The move is part of EFG's broader strategy to streamline its operations and enhance efficiency. According to Aladdin ElAfifi, CEO of EFG Finance, this divestment aligns with the company's goals of reallocating resources to focus on core areas for sustainable growth and innovation. Moving forward, EFG Finance aims to deliver innovative financial solutions, adapting to the complexities of the modern economic environment. EFG Holding operates as a prominent financial institution with a diverse range of services, predominantly in the Middle East and Africa, providing investment banking, commercial banking, and non-bank financial services.
Sectors
- Financial Services
- FinTech
Geography
- Egypt – The transaction involves PayTabs Egypt and EFG Holding, both significant entities in Egypt's financial market.
- Middle East and North Africa (MENA) – EFG Holding is a leading financial institution in the MENA region, providing various financial services across several countries.
Industry
- Financial Services – The article discusses the divestment by EFG Finance, which is a non-bank financial institution, and highlights the financial services industry through its operations.
- FinTech – PayTabs is a fintech company, and the divestment of PayTabs Egypt is directly related to the fintech industry.
Financials
- Undisclosed – The financial terms of the divestment deal between EFG Finance and PayTabs Global were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EFG Finance | Selling Company | Company | A non-bank financial institution and subsidiary of EFG Holding, divesting its stake in PayTabs Egypt. |
| PayTabs Egypt | Target Company | Company | A fintech company providing payment solutions, sold by EFG Finance to PayTabs Global. |
| PayTabs Global | Bidding Company | Company | The company acquiring the remaining stake in PayTabs Egypt from EFG Finance. |
| Aladdin ElAfifi | CEO of EFG Finance | Person | As the CEO, Aladdin ElAfifi provides strategic direction for EFG Finance. |