Al Ahly Pharos Investment Banking S.A.E (Al Ahly Pharos) announces the successful signature of the Share Purchase Agreement “SPA” for the sale of a 25% stake in Al Ahly Momkn for Electronic Collection Services S.A.E (Al Ahly Momkn) to e-finance for Digital and Financial Investments S.A.E (e-finance).

Cairo – Wednesday, May 22, 2024 – Al Ahly Pharos successfully acted as the exclusive sell-side advisor to the co-founders of Al Ahly Momkn in divesting their entire stake to e-finance, the leading fintech company in Egypt. The strategic move marks a significant milestone for both Al Ahly Momkn and e-finance as they join forces to innovate and revolutionize the landscape of the digital financial services in Egypt and the region.

Established in 2016, Al Ahly Momkn has developed into one of Egypt’s leading fintech platforms, offering a wide array of e-payment services. The Company has a network of more than 50 strategic partnerships, successfully leveraging its commission-sharing business model to facilitate bill payment and top-up, as well as a variety of payment-processing services.

Mr. Ahmed Heider, CEO of Al Ahly Pharos Investment Banking stated: “We are pleased to have acted as the exclusive sell-side advisor to the co-founders of Al Ahly Momkn in this landmark transaction. The partnership of Al Ahly Momkn and e-finance underscores the value of strategic collaboration in driving innovation and growth in the financial services sector. We are confident that this transaction will create significant value for all parties involved.”

Mr. Mohsen Abou El Nour, Managing Director – Head of ECM and M&A at Al Ahly Pharos Investment Banking remarked: “We are thrilled to have successfully acted as the exclusive sell-side advisor to the co-founders of Al Ahly Momkn and facilitated the partnership between Al Ahly Momkn and e-finance to create an institution that will surely enhance and add value to the fintech and digital payments sector in Egypt and the region. The Transaction confirms Al Ahly Pharos’s position as the leading M&A advisor in Egypt continuously striving to assist our clients’ in achieving their strategic objectives.

Al Ahly Pharos Securities Brokerage acted as the transaction broker for both the seller and the buyer. Zaki Hashim & Partners acted as the legal counsel for the seller, Shahid Law Firm acted as the legal counsel for the buyer.

—End—

About Al Ahly Momkn for Electronic Collection Services S.A.E:

Established in 2016, Al Ahly Momkn has developed into one of Egypt’s leading fintech platforms, offering a wide array of e-payment services. The Company has a network of more than 50 strategic partnerships, successfully leveraging its commission-sharing business model through sharing commissions with the vendors and merchants. In March 2021, 75% of Al Ahly Momkn was acquired by the National Bank of Egypt and Al Ahly Capital Holding, Egypt’s largest bank, through its payments arm Al Ahly Payments.

About e-finance for Digital and Financial Investments S.A.E:

e-finance Investment Group is a homegrown developer of digital payments infrastructures that was established in 2005 to develop the Government of Egypt’s financial network. Over the course of nearly two decades, the Group has penetrated all corners of Egypt’s digital market and transformed itself into a leading technology-focused investment firm. With a dynamic business model and a flexible organizational structure, e-finance is able to focus on multiple target markets through its subsidiaries and maximize its ability to unlock value in the digital payments space. The Group boasts a portfolio of subsidiaries that has enabled e-finance’s growth across multiple markets, unlocked synergies across its business lines, and enabled digital transformation for various strategic sectors throughout the nation to support the development of Egypt’s digital economy and drive towards financial inclusion.

About Al Ahly Pharos:

Al Ahly Pharos Investment Banking offers the full range of financial services in both Equity and Debt Capital Markets. Equity Capital Markets platform offers financial advisory, promoting and underwriting of securities of primary and secondary equity offerings, mergers, and acquisitions advisory. Debt Capital Markets platform offers debt advisory and structuring, promoting and underwriting of debt securities, and issuance of conventional and sharia-compliant products.