Egyptian fintech powerhouse E-Finance has announced a significant investment plan, allocating up to USD 60 million over the next three years to bolster its capabilities in artificial intelligence and cloud computing. This new commitment represents a doubling of the company’s investment volume compared to the previous three-year period, signaling a strong strategic pivot towards next-generation technologies.
Fueling Growth with Technology
The investment follows a period of remarkable financial performance for the company. In the first nine months of the year, E-Finance saw its revenue climb by 50% to EGP 5 billion, with net profits matching this growth rate to reach EGP 1.8 billion.
Chairman and CEO Ibrahim Sarhan attributed this success to the company’s strategic investments in technological infrastructure, cybersecurity, and skilled human resources dedicated to fintech. He highlighted that AI and cloud computing technologies have already been instrumental in expanding the company’s service offerings by 60%, providing a strong incentive for the increased investment.
Strategic Regional Expansion
Leveraging extensive experience gained from working with governmental and financial institutions across Egypt, E-Finance is now preparing for a strategic regional expansion. According to Sarhan, the company has spent the last two years actively identifying investment opportunities in Saudi Arabia, with plans to solidify its presence in the Kingdom in the coming year.
This move is part of a broader strategy to export its proven fintech infrastructure and service models to new markets across the MENA region.
Pioneering Digital Banking Infrastructure
E-Finance is also positioning itself at the forefront of Egypt’s emerging digital banking sector. Sarhan clarified that the company’s role will be to provide the essential infrastructure and services for new digital banks. While E-Finance has already secured a digital banking license, it is currently awaiting the finalization of the regulatory framework by the Central Bank of Egypt before officially launching its services.
About E-Finance
E-Finance is an Egyptian investment group and a leading developer of digital payment infrastructures and fintech services. The company provides a wide range of solutions to both government and private sector clients, playing a crucial role in Egypt’s digital transformation and financial inclusion initiatives.
Source: Waya
