Banque Misr, e& Egypt to launch EGP 500M e-payment firm end-2023

Updated 9/12/2023 8:49:00 AM
Banque Misr, e& Egypt to launch EGP 500M e-payment firm end-2023

Arab Finance: Banque Misr will launch, in cooperation with the UAE-based telecom operator e& Egypt, an e-payment company with capital of EGP 500 million before the end of 2023, two sources familiar with the matter told Asharq Business on September 12th.

e& Egypt will hold a 60% stake in the new company, while Banque Misr will own 40%, one source noted.

Earlier in April, it was reported that the bank is awaiting obtaining the licenses required to establish an e-payment firm.

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