EFG Finance Announces Strategic Divestment from PayTabs Egypt to Optimize Operational Efficiency

EFG Finance, an EFG Holding company and its non-bank financial institution’s arm, has announced its strategic divestment from PayTabs Egypt as part of its ongoing initiative to streamline operations and achieve greater efficiencies across its portfolio.

EFG Finance will sell its 51% stake in PayTabs Egypt to PayTabs Global for an undisclosed amount, which is not expected to have a material impact on the Group’s financial position.

Aladdin ElAfifi, CEO of EFG Finance, commented: “Our divestment from PayTabs Egypt represents a strategic step in refining our operational focus. 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”.

EFG Finance will continue to explore opportunities that align with its mission of providing innovative financial solutions in a dynamic market environment.

The vertical remains dedicated to focusing its efforts on delivering comprehensive financial services to clients, both individuals and businesses of all sizes.

By prioritizing innovation and adaptability, EFG Finance aims to equip its clients with the tools and solutions they need to thrive in an ever-changing economic landscape.

This commitment to excellence ensures that EFG Finance will consistently offer tailored and cutting-edge financial products that support growth and success.