According to a recent press release, PayTabs Group has purchased a 51 percent share in PayTabs Egypt from EFG Finance, a division of EFG Holding.
The deal is in line with the group’s long-term plan to support financial inclusion and digital transformation throughout Egypt.
PayTabs will strengthen its position in Egypt and beyond with this acquisition, giving customers access to safe and easy payment options and giving merchants more chances to grow their businesses.
Abdulaziz Al Jouf, CEO and Founder of the PayTabs Group, said: “We remain deeply committed to Egypt’s digital payments future, and our focus on innovation and customer-centricity will only grow stronger.”
“This transition allows us to streamline our operations and further enhance the value we offer to local businesses, government initiatives, and consumers,” Al Jouf mentioned.
Aladdin El-Afifi, CEO of EFG Finance, commented: “By reallocating resources from non-core assets, we enhance our ability to drive sustainable growth and innovation in key areas. This decision aligns with our long-term strategic objectives and commitment to delivering value to our stakeholders.”
