Source: Zawya

PayTabs Group has acquired a 51% stake in PayTabs Egypt from EFG Finance, an EFG Holding company, according to a recent press release

The transaction aligns with the group’s long-term strategy to bolster digital transformation and financial inclusion across Egypt.

Through this acquisition, PayTabs will foster its position in Egypt and beyond, creating more opportunities for merchants to expand their businesses and for consumers to experience secure and seamless payment solutions.

Abdulaziz Al Jouf, CEO and Founder of the PayTabs Group, said: “We remain deeply committed to Egypt’s digital payments future, and our focus on innovation and customer-centricity will only grow stronger.”

“This transition allows us to streamline our operations and further enhance the value we offer to local businesses, government initiatives, and consumers,” Al Jouf mentioned.

Aladdin El-Afifi, CEO of EFG Finance, commented: “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.”