INVESTMENT WATCH- Arabia Investment Holding (AIH) is planning to invest EGP 60 mn this year in its non-banking financial services subsidiaries, leasing company UE Finance, auto financing firm Rawaj, and its soon-to-be established factoring company, the local press reports, citing unnamed sources. The company is also considering more stock buybacks, which it has recently done to maintain its share prices, as well as purchasing shares in promising EGX-listed companies, without providing additional details.
More from Enterprise
How correspondent banking works, and what the FinCEN clampdown on Banque Misr UAE means for business
As FinCEN proposes cutting Banque Misr’s UAE branches from USD…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
Why EGX stocks are going under the IPO wave
Fund managers are releasing liquidity for ongoing and future IPOs,…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…