Use the proceeds of the capital increase to develop the infrastructure of the subsidiaries

Ibrahim Sarhan, chairman of the board of the e-finance group for financial and digital investments, said the central pillar of the strategy adopted by the group is the implementation of innovative investments that contribute to maximizing the positive returns of the Egyptian economy as a whole.

He pointed out that “from this point of view, the group is eager to achieve effective integration between all activities and services provided by the various companies and affiliated investments, in an effort to build a strong, high-value platform that contributes to the improvement of the role played by the group in facilitating and promoting the digital transformation in Egypt, which our country is striving for with vigorous steps. ”

He pointed out that it “reflects the group’s continued investment in expanding cloud computing services to serve the clients of the Financial Institutions Operating Technology Company (e-finance) and the client base of all other subsidiaries.”
He commented on the company’s announcement of its business results for the first quarter of this year, that the group’s management is preparing to invest the proceeds of the capital increase process in investment and infrastructure development for all subsidiaries, in collaboration with one of the major consultants. and strategic planning firms to reform the characteristics of the company’s growth strategy; Aiming to promote ambitious expansion plans in various industry sectors, whether current or new, that will contribute to maximizing shareholder value.

He added that the group has also managed to achieve a brilliant performance in the company “e-Tax Tax Solutions Technology”, which is one of the most prominent investments of the group providing innovative electronic solutions to the electronic tax system in manage and operate coordination. with the Egyptian tax authority.

The first of last April witnessed the success of “e-Tax” in launching the first phase of the electronic delivery system early, ahead of its scheduled date. Through this system, the Egyptian Tax Authority will be able to monitor all commercial transactions between producers and consumers in an instant.

The company houses this entire system on the company’s cloud computing infrastructure, which enables it to take advantage of the synergy and integration between the different services of the platform. On the other hand, the group expects to register about 450 thousand new companies in the electronic invoicing system by the end of this year. The strategy that the group offers.

He pointed out that the group is moving forward in achieving its vision aimed at creating a digital boom in the Egyptian health insurance sector through its investment in the e-Health Health Insurance Services Management and Operations Technology Company. e-Health identifies the most prominent role players in the public and private healthcare sector that will form the core of the comprehensive health insurance system in Egypt. e-Health also aims to serve as a link between the General Authority for Health Insurance and health care institutions in the private sector.

The most prominent developments have included the approval of the launch of the first phase of the comprehensive health insurance program. Sarhan expressed his confidence in the superior capabilities of the infrastructure enjoyed by the group, which will form the first support for the success of the state’s efforts to achieve the comprehensive health insurance program for all citizens of the country in line with Egypt’s Vision 2030 .
Sarhan reiterated the group’s commitment to support emerging companies in the Egyptian market that specialize in financial services technology, contributing to the digital transformation of our country. In this context, the group announced its contribution to the Nclude Fund during the first quarter of this year, a venture capital fund aimed at achieving long-term capital gains by investing primarily in emerging companies in the Egyptian market and the Middle East. . and African markets specialized in the service technology sector Financial Fin technology or related sectors. The fund focuses on investing in targeted beginners during the early stages of their growth journey.

Sarhan confirmed that the group’s contribution to the “Nclude” fund was $ 10 million; It comes within the framework of the strategy adopted by it aimed at supporting emerging companies in the Egyptian market that specialize in financial services technology with high potential for growth, in an effort to play the leading role that the group plays in the development of the electronic payment system in Egypt, in addition to the growth of its revenue from the activity of managing digital financial transactions. . In addition to the move to contribute to the “Nclude” fund, many subsidiaries have made relentless efforts to explore attractive investment opportunities that contribute to the consolidation of the group’s position in the arena of emerging companies in the financial services technology sector related to the group’s fields of work, and facilitating their access to emerging companies and digital platforms that have the potential for attractive growth, as well as providing opportunities to diversify the range of services it offers and improve its market expertise.

In terms of plans to expand its activities to international markets, Sarhan explained that the group is gradually moving to markets characterized by promising growth potential. The group has shifted its focus in this direction to the sub-Saharan African markets, which are experiencing rapid economic and population growth. Among the strategic steps it has implemented to expand its footprint to African markets, the group created a new operating sector during the first quarter of this year that is concerned with consolidating the group’s relations with African markets and international associations, as it is the group’s activities in the region’s markets.

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