Talaat Moustafa Group’s (TMG) net income declined 11% in 2020 to EGP 1.7 bn, compared to EGP 1.9 bn a year earlier, according to the company’s earnings statement (pdf). This came despite revenues jumping 20% y-o-y to hit EGP 14 bn during the year.
More from Enterprise
The digital EGP won’t look different at checkout — but it will work nothing like InstaPay
Every instant payment today depends on your bank or telco.…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Egypt is fixing how deals get executed, but what pushes investors offshore runs deeper than the reforms on the table
Investment Ministry and a Senate committee are both moving to…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…