Investors jostle for stake in Al Ahly Momkn: A group of private equity firms, including Tana Africa, Lorax Capital Partners, and US-based UltraCapital, are bidding to acquire a 25% stake in state-owned e-payments player Al Ahly Momkn, Al Mal reports, citing sources it says are familiar with the matter. Shareholders have reportedly received acquisition offers from several firms from Saudi Arabia, the UAE, Oman, France, and the Netherlands, the sources said, without providing further details.

The sellers: The bidders are looking to acquire the 18.1% stake held by Al Ahly Momkn co-founder Samir Abo Hashem and another 6.9% stake held by several other shareholders.

Momkn is majority-owned by NBE: The National Bank of Egypt’s investment arm Ahli CapitalHolding acquired a 75% stake in Al Ahly Momkn in 2021 in a transaction that was valued at the time at around EGP 140 mn. The acquisition brought Momkn under Tamkeen, a platform for a host of non-banking financial services companies that operate as subsidiaries of a new holding company, Al Ahly Capital Holding Financial Services.

Advisors: Al Ahly Pharos has reportedly been tapped to advise Al Ahly Momkn.


EDITOR’S NOTE- This story was amended on Wednesday, 19 July to correct Samir Abo Hashem’s title. A previous version of this story incorrectly stated that Abo Hashem is CEO and chairman of Al Ahly Momkn. 

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