{"id":615386,"date":"2024-02-18T00:00:00","date_gmt":"2024-02-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/18\/vodafone-egypt-gets-cbe-approval-to-up-stake-in-fintech-platform-basata\/"},"modified":"2024-02-18T00:00:00","modified_gmt":"2024-02-18T00:00:00","slug":"vodafone-egypt-gets-cbe-approval-to-up-stake-in-fintech-platform-basata","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/18\/vodafone-egypt-gets-cbe-approval-to-up-stake-in-fintech-platform-basata\/","title":{"rendered":"Vodafone Egypt gets CBE approval to up stake in fintech platform Basata"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>CBE signs off on Vodafone upping its stake in Basata<\/strong><strong>: <\/strong>Vodafone Egypt has receivedapproval from the Central Bank of Egypt to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b231973-e367-4829-9a53-883f9d1b03d2\" style=\"\" rel=\"noopener\">raise its stake<\/a> in fintech platform <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/ebtikar-for-financial-investment\/\" style=\"\" rel=\"noopener\">Basata Holding for Financial Investments<\/a> subsidiaries Bee and Masary \u2014 which constitute its epayment arm \u2014 to 20%, up from 10%, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/1535.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. No information was given about the value of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vodafone increases its presence in the local fintech scene: <\/strong>Basata \u2014 originally known as Ebtikar \u2014 was <a target=\"_blank\" href=\"https:\/\/binvestmentsegypt.com\/portfolio\/ebtikar\/\" style=\"\" rel=\"noopener\">established<\/a> as a JV between B Investments, BPE Partners, and MM Group for Industry and International Trade in 2017. Basata\u2019s e-payment <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/basata-payments\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">arm<\/a> provides point-of-sale (POS) machines to merchants, has its own app \u2014 dubbed Basata Pay \u2014 for consumers to pay bills and make other transactions remotely.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Vodafone Egypt acquired its existing 10% stake in both of the Basata subsidiaries in April 2022, following an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42db6645-da56-49c4-a284-ed39e05306b4\" style=\"\" rel=\"noopener\">MoU in 2021<\/a> that established its intent to eventually acquire 20% of the subsidiaries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ownership breakdown:<\/strong> Upon completion of the transaction, Basata will own a direct andindirect 80% stake in Bee and 63.5% stake in Masary, the disclosure said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vodafone acquired its existing 10% stake in the firm in 2022<\/p>\n","protected":false},"author":1,"featured_media":615387,"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":[8368,72,183,7128,142],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-615386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-basata","tag-enterpriseam","tag-fintech","tag-ma-watch","tag-vodafone-egypt","wpautop","entry"],"acf":{"mongo_id":"151761a0-9028-496d-a3d7-e3c886df6375","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1615.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Vodafone Egypt gets CBE approval to up stake in fintech platform Basata to 20%","related_issue":[615379],"teaser":"Vodafone acquired its existing 10% stake in the firm in 2022","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.c42f6a62-14f0-44ef-ac4d-c68e463f2d60.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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It\u2019s a relatively slow and calm send-off into the weekend, with few happenings to take note of.THE BIG STORY TODAY Vodafone gets CBE greenlight to up its stake in Basata: Vodafone Egypt has received approval from the Central Bank of Egypt to raise its stake in B\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\/2024\/1\/1375.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":641832,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/thats-a-wrap-on-basatas-stake-acquisition-of-madfoatcom\/","url_meta":{"origin":615386,"position":2},"title":"That\u2019s a wrap on Basata\u2019s stake acquisition of MadfoatCom","author":"enterpriseam admin","date":"3 September 2024","format":false,"excerpt":"The two buyers were 2.9 percentage points off their target to acquire up to 30% of the Jordanian company","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\/2024\/1\/1375.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616241,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/","url_meta":{"origin":615386,"position":3},"title":"B Investments granted more time to submit MTO for OFH. PLUS: Agthia ups stake in Abu Auf, Basata acquires Jordanian fintech stake","author":"enterpriseam admin","date":"3 March 2024","format":false,"excerpt":"B Investments wants to submit an MTO for up to 90% of Orascom Financial Holding","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\/2024\/3\/11.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560344,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/24\/vodafone-to-acquire-20-in-fintech-players-bee-and-masary\/","url_meta":{"origin":615386,"position":4},"title":"Vodafone to acquire 20% in fintech players Bee and Masary","author":"enterpriseam admin","date":"24 February 2021","format":false,"excerpt":"Vodafone Egypt is set to acquire a 20% stake in each of Bee and Masary \u2014 both subsidiaries of non-banking financial services provider Ebtikar \u2014 under the terms of an MoU between Ebtikar and Vodafone, Hapi Journal reports. Vodafone will acquire the stakes through a capital increase. The acquisition comes\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\/2\/347.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566305,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/10\/ebtikar-sets-ipo-deadline-by-4q2021\/","url_meta":{"origin":615386,"position":5},"title":"Ebtikar sets IPO deadline by 4Q2021","author":"enterpriseam admin","date":"10 June 2021","format":false,"excerpt":"Ebtikar has narrowed the deadline for its planned EGX debut to 4Q2021, after having eyeda larger window within 2H2021 to pull the trigger on its IPO, Omar El Labban, the IR director of majority shareholder B Investments, told Enterprise. The non-banking financial services player recently finished spinning off most activities\u2026","rel":"","context":"In &quot;SPEED ROUND: IPO WATCH&quot;","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"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\/615386","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=615386"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/615386\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/615379"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/615387"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=615386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=615386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=615386"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=615386"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=615386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}