The Ministry of Transportation collaborates with eFinance, EFIG's subsidiary, to provide the service of reserving railway tickets "online" via the Egyptian Railway Authority's website and mobile application. This collaboration is a continuation of the development and digital transformation processes led by the Ministry of Transportation in all affiliated bodies and sectors, in accordance with His Excellency President Abdel Fattah El-Sisi's directives to accelerate the use of the most advanced international systems in the field of communications and information technology to help citizens utilize railways. Through the technology provided by eFinance, Passengers can book train tickets, pay for them using bank cards and electronic payment methods, and receive their ticket electronically, which can be printed or used as is without having to go to the train station ticket office. The service allows passengers to register their basic data such as name, ID, and e-mail address, allowing them to book train tickets fifteen days before the train departure time. The passenger can book up to four tickets per day, and the same ticket can also be used to cross the station's electronic gates. Passengers can also manage and alter their online bookings or refund the ticket in case of cancellation, and any money owed to them will be repaid electronically to the card used in the reservation within 15 working days after the statutory costs have been deducted. Passengers can now book through the website link by clicking here or through the "ENR Tickets” mobile application for both, Android phones and Apple phones  Lieutenant-General Engineer Kamel Al-Wazir, Minister of Transportation, stated that the Ministry will spare no effort in providing all means of comfort to citizens, and that the Ministry is eager to use the latest advances in technology to improve the system of services provided to ensure the highest quality and the greatest possible efficiency in the management and operation of all Ministry facilities. He also expressed his pride in the Ministry and its various bodies' continued implementation of His Excellency President Abdel Fattah El-Sisi's directives for digital transformation within Egypt's Development Vision 2030, and in collaboration with Egypt's national partner for digital transformation, EFIG and all its subsidiaries. Mr. Ibrahim Sarhan, Chairman and CEO of EFIG, emphasized the group's continued commitment to implementing the goals of digital transformation in Egypt in collaboration with all ministries and government associations, as well as the private sector, to achieve the greatest benefit for the economy. He went on to say that EFIG is proud of its outstanding collaboration with the Ministry of Transportation in many automation and digital transformation projects, and that the Ministry places a high value on accelerating development processes that serve citizens, which pushes the group to use all its abilities and capabilities in order to speed the implementation of projects.

EFIG announced today its standalone and consolidated results for the six-month period ended 30 June 2023. The Group’s consolidated revenues increased by 37.5% y-o-y to EGP 1,735.4 million driven by broad-based growth across the Group’s subsidiaries. On the profitability front, the Group recorded an EBITDA surge of 46.6% y-o-y to EGP 823.0 million, and at its bottom-line, the Group recorded a net profit after non-controlling interest (NCI) increase of 49.8% y-o-y to EGP 718.4 million, with an associated y-o-y net profit margin expansion of 3.4 percentage points to 41.4% during the six-month period. Following a strong start to the year, the Group has successfully maintained its momentum and delivered exceptional results for the first half of 2023. Our strong performances across the board demonstrate our ability to deliver on the Group’s operational, financial, and strategic goals despite the challenges presented to us. Moreover, we have continued to expand eFinance’s presence in the digital payments landscape in key sectors across the nation and further maximized the value generated from our comprehensive technology infrastructure, driving the Group’s solid results for the period. During 1H2023, the Group delivered a 37.5% year-on-year top-line increase to EGP 1.7 billion, largely driven by eFinance Digital Operations as the subsidiary continued to reap the rewards of its investment in cloud services and expand its footprint in Egypt across this lucrative and fast-growing space. Our results were further supported by increased growth across our transaction revenue, where the Group saw a stellar 85.9% year-on-year increase in variable fee transactions as we continued to capitalize on our investments in key sectors and the growing adoption of digital payments. In terms of profitability, the Group recorded a 49.8% year-on-year increase in net income to EGP 718.4 million, with an associated margin expansion of 3.4 percentage points to 41.4% in 1H2023 as we continue to benefit from the higher margin nature of multiple revenue streams coupled with management’s ability to alleviate the impact of Egypt’s record high inflation and elevated interest rate environment by utilizing a variety of mitigation strategies. Click Here for the full Earnings Release

Mr. Ibrahim Sarhan, Chairman and CEO of EFIG, the financial digital transformation sponsor, a jury member of Lamis el Hadidi's "Al Forsa" on ON TV Channel, alongside Dr. Amr Awadallah, Egyptian investor in California, Omar Al-Sahi, General Manager of Amazon Egypt, Wael Al-Fakharany, an expert in technology companies, Amal Anan, Global 500’s partner in Egypt, and Chief Investment Officer at the American University, to evaluate the show’s projects in support of youth and startups in the financial digital transformation field.                    Click here for the full episode