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Tuesday, 07 July 2020

MEDAF Investments plans to gain 50% of e-payment market share and penetrate African market

In exclusive interview with Ahram Online, head of MEDAF corporate affairs Hany Abo Al-Fotouh affirmed the company has a strategy to expand its work in Egypt over the coming five years

Doaa A.Moneim , Wednesday 18 Sep 2019
MEDAF
Hany Abou-El-Fotouh, economic expert and Head of Corporate Affairs at MEDAF Investments
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MEDAF Investments Holding has announced that it targets gaining a market share ranging between 30 and 50 percent of the electronic payment (e-payment) sector in the Egyptian market, in addition to penetrating African markets and searching for new partnerships and investment opportunities in Europe in a number of sectors in the next three years.
 
In an exclusive interview with Ahram Online, head of MEDAF corporate affairs Hany Abo Al-Fotouh said that e-payments is a promising market in Egypt and Africa, boosting the digital transformation policy that Egypt has adopted.
 
“MEDAF has its investment strategy to expand its work in Egypt for the coming five years. We will target the mining, financial and intermediate industries sectors as our destination for investment in Egypt and Africa," Abo Al-Fotouh told Ahram Online.
 
He also added that MEDAF is going to establish number of financial easing companies in 2019.
 
MEDAF Investments Holding is a newly established and fast growing business group that offers cutting edge services to companies of all stripes around the world. It is partly owned by the powerful Kuwaiti Al-Raya United, is based in Egypt and is keen on revolutionising the fields of financial services, education, aviation and supply-chain management, primarily in Egypt but with an eye on Africa and the Middle East.
 
Earlier this month, MEDAF Investments-Egypt announced that it had bought a majority stake, at 26 percent, in Al-Thoraya Oil Refining Company.
 
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