Ebtikar for Financial Investment
Announces the Acquisition of an additional 10.1% Stake of Masary in a Transaction Valued at c. EGP 42 Million
22nd July 2019
Ebtikar for Financial Investment S.A.E (“Ebtikar”), a leading investor in the Non-Banking Financial Services sector in Egypt (a joint venture between MM Group for Industry and International Trade S.A.E- “MTIE.CA” and B Investments Holding S.A.E- “BINV.CA”) announces today the completion of the acquisition of 10.1% of Masary in a transaction valued at c. EGP 42 million, Ebtikar increased its stake in Masary from 35.7% to 45.8%. It is noteworthy to mention that B Investments’ stake in Ebtikar is c. 20%
Masary is a leading company operating in the Electronic Payments sector in Egypt with c. 60,000 Points of Sale (PoS) .
This confirms Ebtikar’s commitment to its investment in Masary as a leading E-Payment provider with considerable growth potential in the Egyptian market” commented Mr. Aladdin Saba,Chairman of Ebtikar.
About Masary
Masary, a leading Egyptian company operating in the Electronic Payments space, the company was established in 2009 with a focus to serve unbanked and under banked consumers by revamping the micro payments eco-system through establishing innovative business models that connect Service Providers with Merchants. Masary has now grown into a leading payment facilitator and aggregator in Egypt. It currently owns and operates 60,000 points of sale across Egypt. Access to the Masary system is through web services, Mobile Applications as well as through dedicated payment terminals. Masary has built its smart payment service network on a flexible platform architecture that will integrate with any external platforms.
About Ebtikar
Established in June 2017 as a joint venture between MM Group for Industry and International Trade (MTI), B Investments Holding and BPE Partners. Ebtikar for Financial Investment is a non-banking financial services platform that is invested in micro-finance (Vitas Misr), electronic payments (Bee & Masary), leasing, mortgage, factoring and consumer finance (Tamweel Group).
Ebtikar is a full-fledged financial services company operating in some of the most undeserved sectors in Egypt and contributing to the financial inclusion of the Egyptian people as well as aiding in the digitization of the Egyptian economy.
About B Investments
Established in 2006, B Investments is an Egypt-based private equity firm and growth capital investor that pulls a wealth of expertise to actively create value in its portfolio companies.
The company’s portfolio investments include Madinet Nasr for Housing and Development (MNHD), TOTAL Egypt, Giza Systems, Ebtikar for Financial Investment, Infinity Solar Assets (3 solar power generating assets in Benban, Egypt in partnership with Infinity Solar), Beard and Gourmet Egypt.
B Investments is committed to unlocking value in companies through partnerships that will help create jobs and contribute to the growth of the Egyptian economy.