e-Finance to provide financial services to the Saudi wealth fund’s Egypt arm

e-Finance is working with the PIF: e-Finance will provide financial and digital services to the Saudi sovereign wealth fund’s new Egypt investment arm, Chairman Ibrahim Sarhan told Bloomberg Asharq yesterday (watch, runtime 7:35).

The PIF now owns a chunk of the state-owned fintech player: The Saudi Egyptian Investment Company (SEIC), set up earlier this month by the Public Investment Fund to manage its investments in Egypt, acquired 25% of e-Finance. SEIC agreed to use its services as part of the negotiations for the acquisition, Sarhan told the business newswire.