{"id":661974,"date":"2025-03-09T00:00:00","date_gmt":"2025-03-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/09\/efg-finance-will-offload-stake-in-paytabs\/"},"modified":"2025-03-09T00:00:00","modified_gmt":"2025-03-09T00:00:00","slug":"efg-finance-will-offload-stake-in-paytabs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/09\/efg-finance-will-offload-stake-in-paytabs\/","title":{"rendered":"EFG Finance will offload stake in PayTabs"},"content":{"rendered":"

M&A- <\/p>\n

EFG<\/strong> Fin<\/strong>ance to exit PayTabs Egypt as part of a push to streamline operations:<\/strong> EFG Holding\u2019s non-bank financial services arm EFG Finance will offload its entire 51% stake in e-payment solutions provider PayTabs Egypt to Saudi parent company PayTabs Global for an undisclosed sum, according to a statement (pdf)<\/a>. The transaction isn\u2019t expected to have a significant impact on the group\u2019s financial position, the statement said. It\u2019s noteworthy that EFG was previously mulling an exit<\/a> through a share-swap agreement for a slice of PayTabs\u2019 parent company.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

What they said: <\/strong>\u201cOur divestment from PayTabs Egypt represents a strategic step in refining our operational focus. By reallocating resources from non-core assets, we enhance our ability to drive sustainable growth and innovation in key areas. This decision aligns with our long-term strategic objectives and commitment to delivering value to our stakeholders,\u201d said EFG Finance CEO Aladdin El Afifi.<\/p>\n

\n

LOGISTICS -<\/p>\n

Dekheila <\/strong>Port\u2019s USD 660 mn offshore facility takes a step forward: <\/strong>The Alexandria Port Authority inked initial commitment agreement with the Alexandria for Supply Chain Company to establish a permanent offshore facility to receive, store, and transport feed gasses for local industry at the Dekheila Port, according to a Transport Ministry statement<\/a>. The project will see USD 660 mn in investments across three phases of development.<\/p>\n

When will the facility go online? <\/strong>Commercial operations for the first phase are expected to kick off in 2027 with volumes of up to 350k tons annually, which are expected to rise to 4 mn tons upon wrapping up the project\u2019s third phase.<\/p>\n

REMEMBER- <\/strong>Alexandria for Supply Chain Company \u2014 a JV between state-owned companies Egyptian Petrochemicals Holding, Sidpec, and the Egyptian Natural Gas Company (Gasco) and private sector player Gama Construction \u2014 aims to import 1.1 mn tons of liquefied ethane gas<\/a> a year, ensuring a steady supply of raw materials for the petrochemical industry in the region.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS- Dekheila Port\u2019s USD 660 mn offshore facility takes a step forward<\/p>\n","protected":false},"author":1,"featured_media":661975,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7209],"tags":[111,72,145,8726],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam","tag-logistics","tag-sidpec","wpautop","entry"],"acf":{"mongo_id":"66f6e3b0-7788-4db8-8bec-c8da682c4c8e","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/594.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EFG Finance will offload stake in PayTabs","related_issue":[661954],"teaser":"PLUS- Dekheila Port\u2019s USD 660 mn offshore facility takes a step forward","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.5bc7e954-7e4d-4531-922e-b712d250f2d1.mp3"},"yoast_head":"\nEFG Finance will offload stake in PayTabs - 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The new company will launch before the end of this month, EFG Hermes CEO Walid Hassouna said, according to Al Mal. No details\u2026","rel":"","context":"In "Speed Round"","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":574836,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/23\/paytabs-offers-services-without-charge-to-smes-for-three-months-starting-october\/","url_meta":{"origin":661974,"position":1},"title":"PayTabs offers services without charge to SMEs for three months starting October","author":"enterpriseam admin","date":"23 September 2020","format":false,"excerpt":"Small businesses are getting access to EFG Hermes\u2019 online payment platform PayTabsEgypt\u2019s gateway services for three months at no charge, according to a statement (pdf). This option will be available for businesses that process EGP 100k per month in online transactions. The PayTabs gateway allows businesses to integrate cash flows\u2026","rel":"","context":"In "Speed Round"","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":543505,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/03\/paytabs-valu-team-up-with-mazadat-on-e-payments-nbk-egypt-completes-share-buyback-ahead-of-delisting\/","url_meta":{"origin":661974,"position":2},"title":"PayTabs, ValU team up with Mazadat on e-payments + NBK Egypt completes share buyback ahead of delisting","author":"enterpriseam admin","date":"3 February 2022","format":false,"excerpt":"EFG Hermes\u2019 subsidiaries PayTabs and valU have partnered with X2C online auction and e-commerce platform Mazadat to give its customers access to valU\u2019s buy-now-pay-later services and PayTabs\u2019s online payment gateway, according to a joint press release (pdf)..NBK Egypt shareholders sold 20.7 mn shares back to the bank at EGP 20\u2026","rel":"","context":"In "Also on our Radar"","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":560935,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/18\/efg-hermes-universal-group-to-launch-new-ecommerce-site\/","url_meta":{"origin":661974,"position":3},"title":"EFG Hermes, Universal Group to launch new ecommerce site","author":"enterpriseam admin","date":"18 March 2021","format":false,"excerpt":"EFG Hermes and Universal Group are collaborating on a new ecommerce website that will allow the home appliance company to sell directly to its customers, the investment bank said in a statement (pdf) yesterday after signing the agreement. EFG subsidiary PayTabs Egypt will handle payments on the platform while its\u2026","rel":"","context":"In "ECOMMERCE"","block_context":{"text":"ECOMMERCE","link":"https:\/\/enterpriseam.com\/egypt\/category\/ecommerce\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561472,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/more-financial-inclusion-for-pensioners-paytabs-valu-services-coming-to-lulu\/","url_meta":{"origin":661974,"position":4},"title":"More financial inclusion for pensioners + PayTabs, valU services coming to LuLu","author":"enterpriseam admin","date":"8 April 2021","format":false,"excerpt":"Pensioners will soon have access to \u201cnew electronic channels\u201d to receive and use their monthly payments under an MoU the Central Bank of Egypt (CBE) signed with the National Telecom Regulatory Authority (NTRA), according to a joint statement (pdf) yesterday. The CBE-led initiative will allow more pensioners to use local\u2026","rel":"","context":"In "Finance"","block_context":{"text":"Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/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":563092,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/efg-hermes-subsidiaries-take-home-fintech-awards\/","url_meta":{"origin":661974,"position":5},"title":"EFG Hermes subsidiaries take home fintech awards","author":"enterpriseam admin","date":"17 June 2021","format":false,"excerpt":"EFG Hermes consumer finance subsidiary valU took home a nod from Entrepreneur Middle East\u2019s 2021 fintech awards, the company said in a press release (pdf). The consumer finance platform was recognized for its strong performance, having more than tripled in size during 2020. EFG subsidiary PayTabs Egypt, meanwhile, has been\u2026","rel":"","context":"In "THURSDAY KUDOS"","block_context":{"text":"THURSDAY KUDOS","link":"https:\/\/enterpriseam.com\/egypt\/category\/thursday-kudos\/"},"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\/661974","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=661974"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661974\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/661954"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/661975"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=661974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=661974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=661974"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=661974"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=661974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}