{"id":552239,"date":"2022-08-22T13:39:58","date_gmt":"2022-08-22T13:39:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/22\/this-evening-valu-snaps-up-100-of-paynas-citi-sees-uk-inflation-jumping-above-18-next-year\/"},"modified":"2022-08-22T13:39:58","modified_gmt":"2022-08-22T13:39:58","slug":"this-evening-valu-snaps-up-100-of-paynas-citi-sees-uk-inflation-jumping-above-18-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/22\/this-evening-valu-snaps-up-100-of-paynas-citi-sees-uk-inflation-jumping-above-18-next-year\/","title":{"rendered":"THIS EVENING: valU snaps up 100% of PayNas + Citi sees UK inflation jumping above 18% next year"},"content":{"rendered":"<p><strong>Happy hump day, wonderful people.<\/strong> We have a slightly slower news afternoon to bring you today \u2014 a welcome breather after the marathon sprint we\u2019ve been keeping up with over the past couple of weeks.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>EFG Hermes\u2019 consumer finance subsidiary valU has acquired 100% of digital financial<\/strong><strong> services platform PayNas<\/strong>, according to an <a href=\"https:\/\/ent.news\/2022\/8\/valU-x-Paynas-PRL-English.docx.pdf\">emailed statement (pdf)<\/a>. The acquisition \u201copens wide doors for valU\u2019s BNPL solutions by tapping into Paynas\u2019s roster of MSME clients and employees, integrating them into valU\u2019s client base, while augmenting Paynas\u2019s offering with a comprehensive range of financing products,\u201d the statement says. The value of the transaction was not disclosed.<\/p>\n<p><strong>^^We\u2019ll have more details<\/strong> on this story in tomorrow\u2019s edition of <strong>EnterpriseAM<\/strong>.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>It also appears to be a slower day abroad, as no single story dominates headlines in the international business press.<\/strong> Among the headlines worth noting: Citi expects inflation in the UK to breach 18% in January on the back of rising energy prices (<a href=\"https:\/\/www.cnbc.com\/2022\/08\/22\/citi-projects-uk-inflation-to-breach-18percent-in-january-as-energy-prices-skyrocket.html\">CNBC<\/a> | <a href=\"https:\/\/www.ft.com\/content\/778e65e1-6ec5-4fd7-98d5-9d701eb29567\">Financial Times<\/a>); disruption to a pipeline carrying oil from Kazakhstan to Europe via Russia could spell further energy shortages for Europe (<a href=\"https:\/\/www.reuters.com\/business\/energy\/kazakh-oil-exports-via-russia-hit-by-damaged-equipment-2022-08-22\/\">Reuters<\/a>); and GCC countries are doubling down on tech stock investments by buying the dip amid market volatility (<a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2022-08-22\/gulf-tech-bets-dubai-inflation-shock-iran-deal-talks-expat-hotspots?srnd=premium-middle-east\">Bloomberg<\/a>).<\/p>\n<p><strong>HAPPENING NOW(ish)-<\/strong><\/p>\n<p><strong>The launch event for the global ClimaTech Run competition for tech entrepreneurs<\/strong>, hosted by USAID-backed <a href=\"https:\/\/www.usaid.gov\/egypt\/economic-growth-and-trade\">Business Egypt<\/a>, takes place today at Le Lac du Caire at 5pm CLT. The competition is also backed by the Environment Ministry and the International Cooperation Ministry.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Saudi Arabia\u2019s sovereign wealth fund is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ef0109-f72e-4b5c-a44d-005328a1c284\">making headlines<\/a><\/strong><strong> in Cairo<\/strong> with at least three possible high-profile acquisitions now appearing to be in its pipeline, including Egypt Aluminum\u2019s capital increase, Egyptian Media Production City, and United Bank.<\/li>\n<li><strong>Moody\u2019s speculates on the fate of the EGP:<\/strong> Egyptian policymakers will likely choose to maintain a close watch on the EGP and allow it to ease gradually against the greenback to avoid exacerbating inflationary pressures, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59267664-f00a-4c2d-9867-7e8314890a5e\">Moody\u2019s said<\/a> in a report.<\/li>\n<li><strong>Pachin\u2019s biggest shareholder to hire advisors for fair value study:<\/strong> Chemical Industries Holding Company (CIHC) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a44be27f-03a3-4465-bb9b-c25e993ceaaf\">will appoint<\/a> an independent financial advisor to value Paint and Chemical Industries\u2019 (Pachin) amid a bidding war for the EGX-listed paint company.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW-<\/strong><\/p>\n<p><strong>A delegation of Turkish businessmen and manufacturers is scheduled to visit <\/strong><strong>Cairo tomorrow to talk investment and cooperation<\/strong>, <a href=\"https:\/\/bit.ly\/3R1JJIC\">Al Mal<\/a> reports. The delegation includes investors in sectors including agricultural equipment, automotive components, textiles and garments, food and beverage, consumer goods, and building materials.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The Union of Arab Banks is organizing a forum on money laundering and terrorism <\/strong><strong>financing in Sharm El Sheikh <\/strong>from 1-3 September. Participating institutions include the Central Bank of Egypt and the Federation of Egyptian Banks, among others.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> \u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>We\u2019re in for a hot day tomorrow, as temperatures in Cairo will hit 41\u00b0C during the day before falling to 27\u00b0C at night, our favorite weather app tells us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Happy hump day, wonderful people. We have a slightly slower news afternoon to bring you today \u2014 a welcome breather after the marathon sprint we\u2019ve been keeping up with over the past couple of weeks. THE BIG STORY TODAY EFG Hermes\u2019 consumer finance subsidiary valU has acquired 100% of digital financial services platform PayNas, according [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[633,183,182,7128,1313,515,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-552239","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-fintech","tag-inflation","tag-ma-watch","tag-paynas","tag-valu","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"6caa68a7-5845-4b5d-af83-e7252c80ee7d","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[552237],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: valU snaps up 100% of PayNas + Citi sees UK inflation jumping above 18% next year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/22\/this-evening-valu-snaps-up-100-of-paynas-citi-sees-uk-inflation-jumping-above-18-next-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: valU snaps up 100% of PayNas + Citi sees UK inflation jumping above 18% next year\" \/>\n<meta property=\"og:description\" content=\"Happy hump day, wonderful people. We have a slightly slower news afternoon to bring you today \u2014 a welcome breather after the marathon sprint we\u2019ve been keeping up with over the past couple of weeks. 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The acquisition will see valU tap into Paynas's roster of micro and small-business clients, while Paynas will add valU\u2019s buy-now-pay-later\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/356.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550263,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/valu-acquires-an-undisclosed-minority-stake-in-payments-app-kiwe\/","url_meta":{"origin":552239,"position":1},"title":"valU acquires an undisclosed minority stake in payments app Kiwe","author":"enterpriseam admin","date":"20 October 2022","format":false,"excerpt":"EFG Hermes\u2019 BNPL platform, valU, has acquired an undisclosed minority stake in fintech Kiwe, Kiwe CEO Fatma Ibrahim confirmed to Enterprise, following a company pressrelease(pdf). The e-payments startup counts our friends at EFG Hermes Finance, EFG EV Fintech, dFin Holding, and Marakez among its existing shareholders.What they said: \u201cThrough the\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/284.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578146,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/efg-hermes-valu-sets-aside-usd-25-mn-to-expand-through-ma-new-products\/","url_meta":{"origin":552239,"position":2},"title":"EFG Hermes\u2019 valU sets aside USD 25 mn to expand through M&#038;A + new products","author":"enterpriseam admin","date":"18 December 2022","format":false,"excerpt":"valU to spend USD 25 mn on regional + product expansion: EFG Hermes\u2019 buy-now-pay-later platform valU expects to invest some USD 25 mn to complete its expansion to Saudi Arabia and roll out new products in early 2023, valU CEO Walid Hassouna told Zawya.REFRESHER- valU signed a sale and purchase\u2026","rel":"","context":"In &quot;NON-BANKING FINANCIAL SERVICES&quot;","block_context":{"text":"NON-BANKING FINANCIAL SERVICES","link":"https:\/\/enterpriseam.com\/egypt\/category\/non-banking-financial-services\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/355.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":551263,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/this-evening-valu-enters-saudi-arabia-house-economic-committee-discusses-the-unified-ins-act-boris-johnson-faces-no-confidence-vote\/","url_meta":{"origin":552239,"position":3},"title":"THIS EVENING: valU enters Saudi Arabia + House Economic Committee discusses the Unified Ins. Act + Boris Johnson faces no confidence vote","author":"enterpriseam admin","date":"6 June 2022","format":false,"excerpt":"Happy Monday, wonderful people. The news mill isn\u2019t on the same overdrive we\u2019ve gotten used to lately, but there\u2019s still plenty of news to keep you busy.THE BIG STORY TODAY valU enters Saudi Arabia: EFG Hermes\u2019 buy-now-pay-later platform valU is set to acquire 35% of Saudi\u2019s FAS Finance, a subsidiary\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547715,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/04\/valus-bnpl-services-are-now-available-on-amazon-egypt\/","url_meta":{"origin":552239,"position":4},"title":"valU\u2019s BNPL services are now available on Amazon Egypt","author":"enterpriseam admin","date":"4 July 2022","format":false,"excerpt":"EFG Hermes\u2019 subsidiary valU\u2019s buy-now-pay-later installment plans are now available to customers of Amazon Egypt, according to a joint statement (pdf) out yesterday.Amazon could soon be a valU shareholder: Amazon has the option of acquiring a 4.3% equity stake in valU after it invested USD 10 mn in EFG\u2019s London-listed\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":552259,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/23\/this-evening-remittances-are-at-a-record-high-again-eurozone-activity-slipped-in-august-and-the-eur-isnt-taking-it-well\/","url_meta":{"origin":552239,"position":5},"title":"THIS EVENING: Remittances are at a record high again + Eurozone activity slipped in August \u2014 and the EUR isn\u2019t taking it well","author":"enterpriseam admin","date":"23 August 2022","format":false,"excerpt":"Good afternoon, friends. Today is hump day \u2014 not yesterday, as we (however wishfully) declared it. It\u2019s not a particularly busy news day here at home, but we\u2019ve learned that these tides can change swiftly.THE BIG STORY TODAY Remittances hit a record high in FY2021-2022 for the second year in\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/552239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=552239"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/552239\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/552237"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=552239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=552239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=552239"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=552239"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=552239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}