2PointZero — the investment arm of International Holding Company — acquired Cairo-born fintech Maseera Holding for an undisclosed sum, according to a joint statement. The Abu Dhabi-based asset manager plans to inject USD 1 bn into Maseera, supporting its expansion, rebranding, and the establishment of a new Abu Dhabi-based entity under the Maseera Holding name.

An eye to go global: Following the acquisition, Maseera plans to expand beyond Egypt, with an initial focus on improving access to credit and financial services for businesses and individuals in emerging markets. The company will use 2PointZero’s investment to develop its AI and digital technology toolkit, helping it scale its offerings across key markets in Asia and Africa.

The pitch: “By combining Maseera’s client-centric approach with our technological expertise and global reach, we are enhancing our dynamic value network and delivering innovative financial solutions to markets where we operate,” 2PointZero Group CEO Mariam Almheiri said.

About Maseera Holding: The data-driven Egyptian fintech offers financial services tailored to low and middle income individuals as well as micro, small, and medium-sized enterprises (MSMEs). Maseera operates as a digital marketplace for financial products designed to be accessible, inclusive and affordable.

OTHER M&A NEWS-

ADQ-backed Aghthia takes bigger bite of Egypt’s Abu Auf: ADX-listed food giant Agthia Group nabbed an additional 10% stake in Egypt-based snack-maker Abu Auf, bringing its total holding in the specialty nut and date processor to 80%, it said in a filing (pdf) to the bourse. The financial terms of the transaction were not disclosed.

Not the first we’re hearing of it: Agthia — majority-owned by Abu Dhabi sovereign wealth fund ADQ — has been gradually increasing its stake in the company. The Emirati food giant first acquired a 60% interest in 2022 followed by another 10% in February 2024.

The move strengthens Agthia’s foothold in Egypt’s fast-growing food market and bolsters its local operations, which contributed 20% of total revenues in 2024, up from 15-16% the previous year despite economic headwinds.

Abu Auf, by the numbers: Founded in 2010, Abu Auf has expanded aggressively since the acquisition, opening some 100 new stores over the past two years, according to the release. The company reported a 33% y-o-y jump in revenues in 2024, despite the EGP’s sharp depreciation, with EBITDA soaring by over 70% in AED terms.

Agthia has been on a regional acquisition spree since 2020, acquiring date processors BMB Group and Al Foah along with Atyab (processed meats), Kuwait’s Al Faysal Bakery, and Jordan’s Nabil Foods.

Market reax: Agthia’s stock was down 1.7% at yesterday’s close to trade at AED 5.2.

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