Empowering the under banked and enabling financial inclusion in Egypt

Ebtikar hires EFG hermes
to explore listing options

September 22, 2020

Ebtikar Holding for Financial Investments has approved the appointment of EFG Hermes to explore the various strategic listing options available to the Company for the purpose of listing the Company or one of its subsidiaries on the Egyptian Stock Exchange

MM Group for industry and International Trade (MTI) announced today that the Board of Directors of 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”) has approved the appointment of EFG Hermes to explore the various strategic listing options available to the Company for the purpose of listing the Company or one or more of its subsidiaries on the Egyptian Stock Exchange (EGX). It is noteworthy to mention that MTI holds a c.49.9% stake in Ebtikar.

Ayman El Dessouky: “Investors are reaching out to Ebtikar to acquire stakes in Bee and Masary”

September 20, 2020

Ayman El Desouky, CEO of Ebtikar Financial Investments, revealed that a number of investors had contacted his company to acquire stakes in the two subsidiaries of “BEE” and “Masary” for electronic payment.

In exclusive statements to Al Mal, he confirmed that Ibtikar is in an open dialogue with those investors who confirmed that there is a good opportunity to enter the electronic payment market through B and Masary, adding: “The matter has not been resolved yet.”

Ebtikar CEO: “Strong investment opportunity in the E-payments sector in the next 3-5 years”

September 02, 2020

Ebtikar for Financial Investments intends to complete the restructuring plan for the two companies, “BEE” and “Masary for Electronic Payment”

Ebtikar for Financial Investments intends to complete the restructuring plan for the two companies, “BEE” and “Masary for Electronic Payment” – the two subsidiaries – by mid-2021, in conjunction with its success in securing a number of contracts with various government agencies recently.
Al-Mal met Ayman El-Desouky, CEO of “Ebtikar Financial Investments”, in an extensive dialogue, to find out about the latest developments in the company’s work, in particular, its subsidiaries “Bee” and “Masary”.

Tamweel Leasing ranked in the top 10 during the first 5 months of 2020 according to the FRA

August 30, 2020

According to the Egyptian Financial Regulatory Authority (FRA), the January-May leasing contracts in Egypt have totalled 21.427 billion Egyptian pounds ($1.35 billion), around 4.8 percent up from 20.453 billion pounds in the same period last year.

According to the Egyptian Financial Regulatory Authority (FRA), the January-May leasing contracts in Egypt have totalled 21.427 billion Egyptian pounds ($1.35 billion), around 4.8 percent up from 20.453 billion pounds in the same period last year.
Bayt El Khebra for Leasing (Technolease) ranked second, garnering 13.33 percent of the Egyptian leasing market share, followed by Al Ahli Leasing Company – part of National Bank of Egypt (NBE) – of 11.37 percent, FRA added.

Tamweel Mortgage ranked number 1 for the past 18 months according to the FRA

August  5, 2020

The Financial Supervision Authority report said that Tamweel Real Estate Finance Company won first place during the first half of the current year

As the results of the company were approved, which confirmed its leadership in the ranking of mortgage finance companies for the year 2019, and the company maintained its leadership in the market until the end of the first half of 2020

Vitas Misr in talks with Sanad Fund, unnamed local bank for new loans

April 14, 2020

Vitas Egypt is in talks with German Development Bank KfW’s Sanad Fund and unnamed local banks for several loans to finance its expansion plans

Managing Director Hossam Heiba tells Al Mal. Vitas is looking to borrow EGP 100 mn from local banks and is still in talks with Sanad over the value of the loan.

Ebtikar becomes sole shareholder of Vitas Egypt after acquiring remaining 50% stake

April 12, 2020

Ebtikar Financial Investments has purchased the remaining 50% stake of microfinance company Vitas Egypt

According to an EGX disclosure (pdf). Ebtikar, which is jointly owned by B Investments (50.1%) and MM Group (49.9%), bought Vitas Group’s entire stake and will now have sole ownership of the firm. MM Group said last month it is looking to take Ebtikar public on the EGX sometime in 2021.

Ebtikar submits proposal to set up two consumer financing companies

January 21, 2020

B Investments’ Ebtikar has submitted documents to the General Authority for Investment to establish two consumer finance companies, according to the local press. No details were provided on the value of the companies.

CEO Ayman El Desouki previously said that one of the companies would provide financing for cars and the other for consumer goods. Ibtikar launched its microfinance activity last January through its subsidiary Vitas Misr for Microfinance. We reported in December that Vitas is planning to extend EGP 300 mn in loans to SME clients this year. The company is also in talks with four local banks for a EGP 200 mn loan.

Ebtikar ups stake in Masary for fifth time reaching 70.7%

November 14, 2019

Ebtikar for Financial Investment, a joint venture between B Investments, BPE Partners and MM Group, has increased its stake in Egyptian e-payments company Masary to 69.8% from 65.5% in a EGP 18.7 mn transaction

The company said in a statement yesterday (pdf). Ebtikar has effectively doubled its holdings of the company across a series of five transactions in the second half of this year, having held 35.7% prior to July. B Investments holds a 20.3% stake in Ebtikar, while MM Group holds 49.9%. Ebtikar Chairman Aladdin Saba said the latest transaction demonstrates the company’s “confidence” in the Egyptian e-payment sector

Ebtikar Announces the Acquisition of
additional 10.1% Stake of Masary

July 22, 2019

Ebtikar for Financial Investment Announces the Acquisition of an additional

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%

ODE offloads 87% stake in Tamweel for EGP 313 mn

June 19, 2019

Development Egypt (ODE) will use EGP 313 mn in cash proceeds from its sale of Tamweel Group to pay down debt, it said in a disclosure to the stock exchange (pdf)

B Investments’ Ebtikar for Financial Investment announced earlier this week that the consortium — comprising Ebtikar, TCV1 and Acquirement for Investment — had completed the acquisition of ODH’s 87% stake after receiving all required approvals. The sale will see Ebtikar take a c.45% stake in Tamweel Group. B Investments holds a c.20% stake in Ebtikar.

“Tamweel” implements an expansionist plan in the mortgage market

March 1, 2019

Tamweel Company which is specialized in mortgage financing intends to implement an expansionist plan in the Egyptian market and to diversify its financing portfolio during the upcoming 5 years.

Mohamed ElKahky, the managing director, revealed that the plan aims to disseminate a culture of mortgage financing between all classes especially the low-income and middle income youth over the next 5 years through an expansion by establishing a network of branches in various governorates and regions and diversifying its financing portfolio.

Ebtikar’s Vitas gets microfinance license

January 28, 2019

Ebtikar for Financial Investment’s Vitas received a micro-financing license and will focus on projects that need up to EGP 100,000 of funding

Parent company B Investments said in a bourse disclosure (pdf). B Investments established Ebtikar in June 2017 as a vehicle to invest in the non-banking financial services sector.

Ebtikar acquires 33.7% stake in Masary

June 26, 2018

Ebtikar for Financial Investment, a joint venture between B Investments and MM Group

Ebtikar said in a statement on Monday (pdf). The transaction on Masary, which now has some 60k points of sale in its network, marks the fourth significant acquisition by Ebtikar this year, the company said, noting it had earlier bought stakes in TBE Egypt for Payment Solutions and Services (Bee), Vitas Misr for Microfinance and Tamweel Group. “The acquisition of Masary positions Ebtikar as one of the leading investors in the electronic payments sector in Egypt,” said Ebtikar Chairman Aladdin Saba. Advisors: Zaki Hashem & Partners was buy-side legal counsel.

Ebtikar-led consortium acquires ODE’s stake in Tamweel for EGP 360 mn

May 27, 2018

A consortium made up of B Investments’ Ebtikar, TCV, and Acquire for Investment acquired Orascom Development Egypt’s (ODE) full 87% stake in Tamweel Group on Thursday.

The transaction valued Tamweel at EGP 360 mn, ODE said in a regulatory filing (pdf). “The sale will enable ODE to deconsolidate the related debt of Tamweel Group, which stood at EGP 1.1 bn as of 31 March 2018,” the company said. ODE has been divesting its non-core assets to reduce its debt burden.

B Investments to pump additional investments this year to microfinance subsidiary Vitas

April 2, 2018

It will invest in SME finance subsidiary Ibtikar towards raising the capital of regional microfinance firm Vitas Group — itself a subsidiary of Ibtikar, founding partner Aladdin Saba reportedly said on Sunday.

B Investments wants Vitas’ capital to increase to EGP 80 mn from a current EGP 30 mn. Vitas only has a temporary license from the Financial Regulatory Authority to operate in Egypt, but is expected to receive a full permit soon, Saba said. The investment is part of EGP 600 mn B Investments has allocated this year towards growing its subsidiaries. The vast majority of those funds were proceeds from its IPO last week.

Ebtikar Holding for financial Investments acquires 60% of Bee

October 3, 2017

BPE Partners and MM Group for Industry and International Trade (MTI)

The transaction was executed through Ebtikar for Financial Investment, a 50-50 joint venture between BPE Partners and MTI. Bee provides bill payment solutions through a secure network and has more than 35,000 outlets across Egypt.

Ebtikar for Investment Finance applies for financial services license

August 8, 2017

Ebtikar for Investment Finance, a partnership between BPE Partners and MM Group

Ibtikar plans to begin offering factoring, leasing, and finance by the end of the year.