Medhat Khalil, the Chairperson of Raya Holding for Financial Investments, revealed that the company is focusing largely on the non-bank financial services sector and fintech, in line with national trends towards enhancing financial inclusion, pointing out that the group’s branch in Aman is witnessing strong growth rates every year.
In an interview with Daily News Egypt, Khalil said that the branch in Aman’s contributions to the company’s total revenues amounted to about 15%, stressing the company’s plan to maximise its market share in the electronic payment market.
He revealed that there is great interest from local and international institutions in the Aman branch and that Raya is always receiving offers to acquire a stake in it after the National Bank of Egypt acquired a 24% stake last year.
He added that the branch in Aman is currently studying an offer from an international organisation to acquire a stake in the company, pointing out that the matter will be decided soon, without disclosing further details.
In response to the Egyptian Exchange’s question about the criteria for choosing a partner safely, Khalil said that the main criterion is the ability of the new partner to create an added value for the company’s business model, in addition to their ability to increase the company’s customer base and enhance its presence in the sector.
He added that the Aman branch has partnered with Taqa Arabia, one of the companies of the Citadel Holding Group, to establish a non-banking financial services company with a share of 51% for the first and 49% for the second.