Basata raises stake in MadfoatCom to 25% in partnership with Jordanian banks
Updated 2/24/2025 1:31:00 PM
Arab Finance: Basata Holding for Financial Payments has strengthened its presence in Jordan by increasing its stake in MadfoatCom, the country’s leading electronic payment provider, to 25%, as per an emailed press release.
The investment was made in collaboration with key Jordanian financial institutions, including Jordan Kuwait Bank (JKB) and the Social Security Investment Fund (SSIF), reinforcing efforts to enhance digital payments infrastructure and financial inclusion in the region.
With this transaction, the banking sector now holds over 50% of MadfoatCom, further cementing its role in Jordan’s financial ecosystem.
Basata’s investment aligns with its strategy to expand digital financial services across the region.
By leveraging MadfoatCom’s market expertise, the company aims to introduce innovative payment solutions, enhance accessibility, and support small and medium-sized enterprises (SMEs) with digital financial tools.
The partnership will also focus on expanding digital payment services, including online and mobile transactions, money transfers, and bill payments.
The transaction was structured and facilitated by New York-based Anniston Capital Inc. and Imara Asset Management, which acted as exclusive financial advisors to Basata.
Al Tamimi & Company in Jordan served as legal counsel.
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