{"id":560715,"date":"2021-03-10T04:14:54","date_gmt":"2021-03-10T04:14:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/"},"modified":"2021-03-10T04:14:54","modified_gmt":"2021-03-10T04:14:54","slug":"nbe-pushing-into-non-bank-financial-services","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/","title":{"rendered":"NBE pushing into non-bank financial services"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Al Ahly Capital has wrapped up its acquisition of a 75% stake in e-payments <\/strong><strong>player Momken<\/strong>, National Bank of Egypt Chairman Hisham Okasha said at a <a href=\"https:\/\/ent.news\/2021\/3\/Tamkeen-Press-release.pdf\">press release (pdf)<\/a>. (NBE is parent company of Al Ahly.) The acquisition brings <a href=\"http:\/\/momkn.com.eg\/About_all.aspx?pid=2&Lang=AR\">Momken<\/a> under Tamkeen, a platform for a host of non-banking financial services companies that will operate as subsidiaries of a new holding company, Al Ahly Capital Holding Financial Services. Reports <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1dfff4e2-a255-4d3f-94d6-769889898c56\">last week<\/a> suggested Al Ahly was on board to pay EGP 100 mn for the stake, while Al Mal reports in its print edition this morning that the transaction was worth EGP 140 mn.<\/p>\n<p><strong>Advisors: <\/strong>On the buy-side, <strong>ALC Alieldean Weshahi & Partners<\/strong> acted as counsel for Al Ahly and <strong>PwC<\/strong> was financial advisor. <strong>Zilla Capital<\/strong> and <strong>Zaki Hashem & Partners<\/strong>, meanwhile, were the sell-side financial and counsel to Momken.<\/p>\n<p><strong>There\u2019s more where that came from: <\/strong>State-owned NBE is looking to create one of the biggest NBFS players in Egypt and support the government\u2019s bid to promote digitization and financial inclusion, Okasha said. There are more acquisitions in the pipeline, including potential stakes in several existing fintech and NBFS companies over the next three years and partnerships with startups in the field, NBE Vice Chairman Dalia El Baz said. While no potential targets were named, Al Ahly Capital was previously said to be in talks to acquire payments platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/611821c3-13b7-41b1-9bc4-6b2aab7be9bb\">Sadad<\/a>. The expansion plan also involves greenfield investments and setting up new companies, Al Ahly CEO Karim Saada said yesterday.<\/p>\n<p><strong>Beginning with microfinance: <\/strong>Al Ahly is aiming to set up 150 branches for microfinance clients over the next three years, all of which will rely on electronic services, NBE microfinance division head Magdy Moussa said. Some 50 branches will be added in the first year, with an eye to reach over 30k clients, starting with Upper Egyptian cities including Beni Suef, Luxor, Aswan, and Sohag, he added.<\/p>\n<p><strong>Further down the line:<\/strong> Tamkeen will be the umbrella for (and public face of) a full range of NBFS services \u2014 including consumer finance, leasing, micro-ins., and factoring, Moussa told us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Al Ahly Capital has wrapped up its acquisition of a 75% stake in e-payments player Momken, National Bank of Egypt Chairman Hisham Okasha said at a press release (pdf). (NBE is parent company of Al Ahly.) The acquisition brings Momken under Tamkeen, a platform for a host of non-banking financial services companies that will operate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":560716,"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":[7363],"tags":[1935,72,290,183,7128,248,595],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-al-ahly-capital-holding","tag-enterpriseam","tag-financial-inclusion","tag-fintech","tag-ma-watch","tag-national-bank-of-egypt","tag-non-banking-financial-services","wpautop","entry"],"acf":{"mongo_id":"d9c7279c-1420-46b8-83a6-d456599c6fe0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/151.jpg","photo_position":"above","related_issue":[560711],"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>NBE pushing into non-bank financial services - 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\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NBE pushing into non-bank financial services\" \/>\n<meta property=\"og:description\" content=\"Al Ahly Capital has wrapped up its acquisition of a 75% stake in e-payments player Momken, National Bank of Egypt Chairman Hisham Okasha said at a press release (pdf). (NBE is parent company of Al Ahly.) The acquisition brings Momken under Tamkeen, a platform for a host of non-banking financial services companies that will operate [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-10T04:14:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/151.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"NBE pushing into non-bank financial services\",\"datePublished\":\"2021-03-10T04:14:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/\"},\"wordCount\":346,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/151.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Al Ahly Capital Holding\",\"EnterpriseAM\",\"financial inclusion\",\"Fintech\",\"M&amp;A Watch\",\"National Bank of Egypt\",\"non-banking financial services\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/nbe-pushing-into-non-bank-financial-services\/\",\"name\":\"NBE pushing into non-bank financial services - 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The two sides are expected to sign the final\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\/2021\/3\/90.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574191,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/01\/al-ahly-capital-to-set-up-new-financial-services-arm-tamkeen\/","url_meta":{"origin":560715,"position":1},"title":"Al Ahly Capital to set up new financial services arm Tamkeen","author":"enterpriseam admin","date":"1 September 2020","format":false,"excerpt":"National Bank of Egypt (NBE) investment arm Al Ahly Capital is looking to set up a new financial services holding company, Tamkeen, to house its micro-lending and e-payments operations, Al Mal reports, citing unnamed sources familiar with the matter. Al Ahly is reportedly seeking approval from the Financial Regulatory Authority\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565733,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/27\/rayas-bariq-to-be-sold-to-mamdouh-abbas-intro-this-week\/","url_meta":{"origin":560715,"position":2},"title":"Raya\u2019s BariQ to be sold to Mamdouh Abbas\u2019 Intro this week","author":"enterpriseam admin","date":"27 April 2021","format":false,"excerpt":"Raya Holding will wrap up the sale of 100% of recycling subsidiary BariQ to Mamdouh Abbas\u2019 Intro Group this week, the local press reports, quoting sources close to the transaction. The sale could value BariQ at close to EGP 500 mn. It will see BariQ\u2019s shares snapped up by a\u2026","rel":"","context":"In &quot;SPEED ROUND: M&amp;A WATCH&quot;","block_context":{"text":"SPEED ROUND: M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/513.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572074,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/al-ahly-capital-in-talks-to-acquire-e-payments-firms-momken-sadad\/","url_meta":{"origin":560715,"position":3},"title":"Al Ahly Capital in talks to acquire e-payments firms Momken, Sadad","author":"enterpriseam admin","date":"10 June 2020","format":false,"excerpt":"M&A WATCH- Al Ahly Capital is in talks to acquire 100% of e-payments firms Momken and Sadad in transactions that could conclude soon, Al Mal reports, citing unnamed sources. No further details were disclosed on the talks, which come as Al Ahly, the National Bank of Egypt\u2019s investment arm, pushes\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590191,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/private-equity-firms-eye-25-stake-in-al-ahly-momkn\/","url_meta":{"origin":560715,"position":4},"title":"Private equity firms eye 25% stake in Al Ahly Momkn","author":"enterpriseam admin","date":"16 July 2023","format":false,"excerpt":"Ahli Capital owns 75% of Al Ahly Momkn","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\/2023\/7\/541.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590686,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/31\/egypts-ahly-capital-to-fully-acquire-pharos-securities\/","url_meta":{"origin":560715,"position":5},"title":"Egypt\u2019s Ahly Capital to fully acquire Pharos Securities","author":"enterpriseam admin","date":"31 December 2019","format":false,"excerpt":"M&A WATCH- Ahly Capital to fully acquire Pharos Securities: National Bank of Egypt-owned Al Ahly Capital has signed a final agreement with Pharos Holding to acquire 100% of its brokerage arm, Pharos Securities, NBE said in a statement carried by Al Mal. The acquisition is reportedly worth EGP 120 mn,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"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\/560715","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=560715"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560715\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560711"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560716"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560715"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560715"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}