{"id":97919,"date":"2025-06-17T00:00:00","date_gmt":"2025-06-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/17\/uihc-egypts-nowpay-set-up-new-fintech-firm\/"},"modified":"2025-06-17T00:00:00","modified_gmt":"2025-06-17T00:00:00","slug":"uihc-egypts-nowpay-set-up-new-fintech-firm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/17\/uihc-egypts-nowpay-set-up-new-fintech-firm\/","title":{"rendered":"UIHC + Egypt\u2019s Nowpay set up new fintech firm"},"content":{"rendered":"

\n

FINANCIAL SERVICES-<\/p>\n

<\/strong>UIHC set u<\/strong>p new fintech firm with Egypt\u2019s Nowpay:<\/strong> Our friends at the United International Holding Company (UIHC) \u2014 owner and operator of the Tas\u2019heel brand name \u2014 partnered with Egyptian fintech company Nowpay<\/a> to establish Now Access, a Saudi-based fintech focused on payroll administration and processing services, according to a disclosure to Tadawul<\/a> on Sunday. The company has an initial capital of SAR 10 mn, with UIHC owning 75% of the firm, while NowPay owns the remainder.<\/p>\n

We knew this was coming:<\/strong> UIHC inked an MoU with Nowpay in January<\/a> to form the company with a total planned investment of SAR 75 mn. <\/p>\n

\n

LOGISTICS-<\/p>\n

The Saudi Ports<\/strong> Authority (Mawani) added the IM2 shipping service, operated by<\/strong> Emirates Line and Wan Hai, to Jeddah Islamic Port<\/strong>, it said in a statement<\/a> yesterday. The new service \u2014 with a capacity of 2.8k TEUs \u2014 will connect the port to the ports of Mundra in India, Alexandria in Egypt, and Mersin in Turkey.<\/p>\n

ICYMI- <\/strong>Mawani has recently added four new shipping services to Jeddah Islamic Port, including CMA CGM\u2019s MEDEX<\/a> with a capacity of 10k TEUs, SeaLand\u2019s WARM<\/a> with a handling capacity of up to 600 TEUs, 5CX<\/a> with a 1.5k standard container capacity, and RESIN<\/a> with a 1k standard container capacity.<\/p>\n

\n

M&A WATCH-<\/p>\n

#1- <\/strong>Dubai-bas<\/strong>ed <\/strong>Global Fertility Network<\/a><\/strong> (GFN)<\/strong> acquired a controlling majority stake in HealthPlus <\/strong>Fertility Center in Jeddah<\/strong>, with plans to rename the company under its IVF brand Bnoon<\/a>, it said in a press release<\/a>. The facility is part of an investment scheme worth more than SAR 100 mn that also included the acquisition of Bnoon IVF Center in Riyadh earlier this year, raising the company\u2019s capacity to 5k IVF cycles per annum.<\/p>\n

About GFN:<\/strong> GFN provides fertility services, aiming to create a network of fertility and reproductive genetics centers across the Middle East. In 2025, the company acquired two fertility centers in Riyadh and Jeddah and is currently developing a new facility in North Riyadh.<\/p>\n

#2-<\/strong> Ajlan<\/a><\/strong>& Bros Holding<\/a><\/strong> is selling its stake in Riyadh-based <\/strong>Diarona District Energy<\/a><\/strong>Company<\/a><\/strong> (DIDC)<\/strong> to <\/strong>United District Energy International Company<\/a><\/strong> (<\/strong>UDIC<\/strong>)<\/strong>, a subsidiary of Qatar-based United Development Company<\/a> (UDC), according to a disclosure to Qatar Stock Exchange<\/a>. The sale is part of a broader agreement in which UDIC is set to secure full ownership over DIDC.<\/p>\n

ICYMI- <\/strong>Ajlan is rebuilding its portfolio<\/strong>: <\/strong>Ajlan & Bros Holding inked a share purchase agreement to sell<\/a> its entire stake in the water bottling firm Pure Beverages Industry Company (PBIC) to Almarai for SAR 1.04 bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

ALSO- Asas Makeen signs off a SAR 240 mn contract with NHC<\/p>\n","protected":false},"author":1,"featured_media":97920,"comment_status":"","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":[2564],"tags":[54,4270,10,2720,351,106,1074,3323],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-asas-makeen-real-estate-development-and-investment-company","tag-enterpriseam-ksa","tag-ma","tag-national-housing-company","tag-real-estate","tag-saudi-ports-authority-mawani","tag-united-international-holding-company-uihc","wpautop","entry"],"acf":{"mongo_id":"0fe66a9d-0f4a-4fb3-a2e2-877c8b41ca04","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/987.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UIHC + Egypt\u2019s Nowpay set up new fintech firm","related_issue":[97903],"teaser":"ALSO- Asas Makeen signs off a SAR 240 mn contract with NHC","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.726bdf0e-3daa-4387-9566-952cb360d7c3.mp3"},"yoast_head":"\nUIHC + Egypt\u2019s Nowpay set up new fintech firm - 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