MadfoatCom plans regional expansion in 2024

Fatma Salah
2 Min Read

MadfooatCom, a collaboration between Ibtikar for Investment Finance, BPE Partners, MM Group, and the Jordan Kuwait Bank, is gearing up for regional expansion this year.

Alaa Saba, Chairperson of BPE Partners, revealed that MadfoatCom aims to extend its networks across all countries in the region, with a particular focus on the Arab region. The expansion strategies will vary based on the specific country being targeted.

In February of this year, Bassata Holding and the Jordan Kuwait Bank jointly submitted a binding offer to acquire a 30% stake in Madfooatcom, which operates in the e-payment sector in Jordan.

Saba shared that Bassata Payments is currently handling daily operations in Egypt, processing approximately three million transactions. The company is actively working to enhance payment acceptance procedures.

Notably, B Investments Holding’s investment portfolio is experiencing significant growth. Saba stated, “We are exploring various investment opportunities this year, including ventures in the healthcare and digital payments sectors.”

While considering exiting from two companies, B Investments intends to retain its stake in the Madinet Masr City Housing and Development Company. The offering process for Basata Financial Holding will be postponed until its anticipated expansions are fully reflected in financial results.

Additionally, B Investments is nearing the completion of the acquisition of Orascom Financial Holding, with shares set to be transferred in the coming days. ?

TAGGED:
Share This Article
Leave a comment