E-Markets Egypt seeks to expand with e-commerce platform

E-Finance subsidiary E-Markets Egypt will expand its services by launching an e-commerce platform alongside its website, Al Mal reports, citing unnamed sources familiar with the matter, who did not provide additional details on the value or timeframe for launching the platform. The company, which runs the Mobadra website created for the government’s consumer spending initiative, will initially offer e-payment services for manufacturers, merchants, SMEs and end users through the new platform, with an eye toward e-lending and other fintech services down the line. Sources said the decision was made to support the government’s program, which aims to stimulate around EGP 125-bn of consumer spending through offering discounts.