{"id":674593,"date":"2025-10-30T00:00:00","date_gmt":"2025-10-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/30\/edge-holding-to-acquire-30-of-basata-microfinance\/"},"modified":"2025-10-30T00:00:00","modified_gmt":"2025-10-30T00:00:00","slug":"edge-holding-to-acquire-30-of-basata-microfinance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/30\/edge-holding-to-acquire-30-of-basata-microfinance\/","title":{"rendered":"Edge Holding to acquire 30% of Basata Microfinance"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, friends, and congratulations on making it through another busy <\/strong><strong>workweek.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t forget to turn back your clocks an hour before you go to sleep tonight<\/strong>, as daylight saving time comes to an end at midnight tonight. Daylight saving time is a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bcbd8a55-7835-49b9-98c8-366feb267d84\/should-we-ditch%253cmark%253e-daylight%253c%2Fmark%253e-savings%3F\" style=\"\" rel=\"noopener\">bugbear<\/a> for some, but whatever your opinion, we can all enjoy that one hour of extra sleep tomorrow morning.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Egyptian banks will be conducting system updates tonight as we prepare to turn back the clocks. The updates are scheduled for 11pm tonight until the early hours of Friday morning, affecting digital banking and ATM services until 6am on Friday, 31 October. So make sure you take care of any time-sensitive transactions ahead of time, and carry some banknotes just in case.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> ?<strong>Edge Holding for Investments signed an agreement to acquire <\/strong><strong>a 30% stake in Basata Microfinance<\/strong>, a subsidiary of Basata Financial Holding (BFH), through a capital increase, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1743.pdf\" style=\"\" rel=\"noopener\">a joint statement (pdf)<\/a>. Edge will take on management duties to support Basata\u2019s nationwide expansion. There\u2019s no publicly available information about the size of the transaction and the number of new shares that will be issued.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction aims to broaden Basata\u2019s product offerings<\/strong>, integrate digital financial services, and enhance governance and operations as part of efforts to ramp up financial inclusion for SMEs and underserved individuals, the statement reads. Basata also plans to create synergies with sister company Basata Pay to integrate payment solutions and develop cross-platform financial products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the companies: <\/strong>BFH invests in Egypt\u2019s non-banking financial services sector, founded in 2017 as a joint venture between EGX-listed companies B Investments Holding and MM Group. It holds a 70% stake in Basata Microfinance. Edge Holding for Investments raised EGP 235 mn in capital and launched ventures in consumer finance, leasing, and real estate solutions. The firm plans to raise over EGP 300 mn to expand into SME, consumer, and mortgage finance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tax hike on alcoholic beverages coming soon: <\/strong>The Finance Ministry is preparing to tax alcoholic beverages based on their alcohol by volume percentage (ABV) in accordance with the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f42067c-d0e3-4c25-8ec8-cd5cd9e0f444\/house-approves-amendments-to-vat-law-on-select-items\" style=\"\" rel=\"noopener\">amended VAT law<\/a> starting 1 January 2026. The tax rate is set to rise by 15% annually for the next three years \u2014 after which the annual increase will be reduced to 12% starting 2029, according to a document seen by EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> VAT amendments, which were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c0fadab-2999-429d-a8eb-f987728255a5\/el-sisi-ratifies%253cmark%253e-vat%253c%2Fmark%253e-law%253cmark%253e-amendments%253c%2Fmark%253e-%2B-eastern-company-hikes-cigarette-prices\" style=\"\" rel=\"noopener\">ratified<\/a> in July, will also impact cigarettes, construction and contracting services. The amendments will help the government bring in an additional EGP 200 bn in tax revenues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The amendments are also in line with the World Health Organization\u2019s standards,<\/strong> and come with the aim of protecting public health, our sources said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does it mean for state coffers: <\/strong>The Finance Ministry hopes the alcoholic beverage tax hikes will generate EGP 4.7 bn from beer and EGP 170 mn from other alcoholic drinks, up from EGP 3.6 bn and EGP 5 mn, respectively, in the previous year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">?<strong>The<\/strong> <strong>long-awaited meeting between US President Donald Trump and Chinese <\/strong><strong>President Xi Jinping in South Korea has turned out \u201camazing,\u201d<\/strong> Trump said, describing the crucial trade talks that had markets swinging and the world holding its breath in fear of a reignited trade war between the two global superpowers. The US president further noted that disputes over the supply of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5507546-47e3-4500-83a8-94a79c3ce216\/%253cmark%253echina%253c%2Fmark%253e-tightens-control-on%253cmark%253e-rare%253c%2Fmark%253e-earth-minerals\" style=\"\" rel=\"noopener\">rare-earth materials<\/a> have now been settled.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump agreed to reduce fentanyl tariffs on China from 20% to 10% in exchange for <\/strong><strong>Beijing resuming purchases of US soybean and rare-earth materials exports<\/strong>, as well as tightening control over illicit fentanyl trade. China further agreed to halt its export controls on rare-earth materials for one year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite overwhelmingly positive reactions from Trump<\/strong>, Xi\u2019s comments on the meeting were more grounded, simply noting that both countries reached a \u201cbasic consensus.\u201d (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/cd7ry3x0nvet\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/looming-trump-xi-meeting-revives-hope-us-china-trade-truce-2025-10-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ceb9d271-09b4-4066-87a7-1e93b6908640\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/oct\/30\/trump-and-xi-meet-in-south-korea-for-crunch-talks-on-trade\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Minutes before the meeting between both leaders, Trump ordered the Pentagon to <\/strong><strong>resume nuclear testing for the first time in 30 years <\/strong>to \u201ckeep pace\u201d with Russia and China. The US president wrote on <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/115460423936412555\" style=\"\" rel=\"noopener\">Truth Social<\/a>, \u201cBecause of other countries' testing programs, I have instructed the Department of War to start testing our Nuclear Weapons on an equal basis. That process will begin immediately.\u201d (<a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/10\/29\/politics\/nuclear-weapons-testing-trump-china-russia-intl-hnk\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c4gzq2p0yk4o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/10\/30\/trump-instructs-us-to-resume-nuclear-weapons-testing-citing-rival-nations-programs.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\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\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/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 target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>We\u2019re in for a warm start to the weekend, with temperatures in the capital set to peak at 31\u00b0C before cooling down to 21\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, friends, and congratulations on making it through another busy workweek. Don\u2019t forget to turn back your clocks an hour before you go to sleep tonight, as daylight saving time comes to an end at midnight tonight. Daylight saving time is a bugbear for some, but whatever your opinion, we can all enjoy that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":674594,"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":[633,7128,69,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-674593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-ma-watch","tag-tax","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"4a215bcb-cdcd-46a3-a62c-b4dc7d697d1c","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/10\/1746.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Edge Holding to acquire 30% of Basata Microfinance","related_issue":[674591],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.9a737400-d48f-4f35-8545-668fe9b2d233.mp3"},"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>Edge Holding to acquire 30% of Basata Microfinance - 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\/2025\/10\/30\/edge-holding-to-acquire-30-of-basata-microfinance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Edge Holding to acquire 30% of Basata Microfinance\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends, and congratulations on making it through another busy workweek. 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Don\u2019t forget to turn back your analog clocks by 60 minutes tonight and enjoy an extra hour of sleep.THE BIG STORY TODAY Government kicks off EGP 50 bn loan program for hospitality players: The tourism and finance ministries have\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":608803,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/25\/this-evening-brics-is-mulling-its-first-syndicated-loan-that-could-include-egypt\/","url_meta":{"origin":674593,"position":1},"title":"THIS EVENING: BRICS is mulling its first syndicated loan that could include Egypt","author":"enterpriseam admin","date":"25 October 2023","format":false,"excerpt":"Good afternoon and happy near-Thursday. We can see the weekend around the corner as we come to a close to this sluggish news week.THE BIG STORY TODAYBRICS eyes its first-ever syndicated loan and we may get a slice: The New Development Bank, established by the BRICS group of emerging economies,\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\/2022\/6\/217.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585705,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/27\/this-evening-economy-to-grow-4-0-in-fy-2022-23-before-accelerating-in-the-next-two-fiscal-years-reuters-poll-suggests-dont-forget-to-change-your-clocks-at-midnight\/","url_meta":{"origin":674593,"position":2},"title":"THIS EVENING: Economy to grow 4.0% in FY 2022-23 before accelerating in the next two fiscal years, Reuters poll suggests + Don\u2019t forget to change your clocks at midnight","author":"enterpriseam admin","date":"27 April 2023","format":false,"excerpt":"Good afternoon, ladies and gents, and welcome to the end of this super-short week. We took the past two days as a gentle reminder of what work is like after a wonderful long Eid break. THE BIG STORY TODAY Egypt\u2019s economy will grow at a 4.5% clip in FY 2023-24,\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\/2023\/4\/921.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579506,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/our-circadian-rhythms-get-thrown-out-of-whack-with-the-changing-clocks-is-ubers-business-model-unsustainable\/","url_meta":{"origin":674593,"position":3},"title":"Our circadian rhythms get thrown out of whack with the changing clocks + Is Uber\u2019s business model unsustainable?","author":"enterpriseam admin","date":"3 November 2022","format":false,"excerpt":"Daylight saving time takes a toll on our bodies: Maybe Egypt was right to cancel it altogether because most sleep and circadian experts recommend we stick to standard time, The Washington Post reports. The issue with permanently implementing daylight saving time is how it throws our bodies out of sync\u2026","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/582.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583462,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/01\/this-evening-daylight-savings-could-be-coming-back-chinas-factory-activity-exceeds-expectations\/","url_meta":{"origin":674593,"position":4},"title":"THIS EVENING: Daylight savings could be coming back + China\u2019s factory activity exceeds expectations","author":"enterpriseam admin","date":"1 March 2023","format":false,"excerpt":"Good afternoon, wonderful people. It\u2019s a busy Wednesday afternoon, with a pipeline of news to keep you busy as we count down to the weekend.THE BIG STORY TODAY- Daylight savings time could make a comeback: A draft law that would reinstate daylight savings time \u2014 rolling our clocks forward from\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":585002,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/09\/this-evening-govt-says-its-keeping-subsidized-loans-for-industry-agriculture-tensions-continue-to-rise-in-jerusalem\/","url_meta":{"origin":674593,"position":5},"title":"THIS EVENING: Gov\u2019t says it\u2019s keeping subsidized loans for industry, agriculture + Tensions continue to rise in Jerusalem","author":"enterpriseam admin","date":"9 April 2023","format":false,"excerpt":"Good afternoon, friends. We\u2019re still seeing telltale signs of that long-awaited Ramadan news slowdown today, with a relatively calm Sunday to start the week. ** SO, WHEN DO WE EAT? We\u2019ll be breaking our fasts at 6:18pm CLT today. You have until 4:05am tomorrow morning to hydrate and grab a\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\/2023\/4\/370.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/674593","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=674593"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/674593\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/674591"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/674594"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=674593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=674593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=674593"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=674593"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=674593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}