Journey of Success

2005

2007

2009

2010

2012

2013

2015

2016

2017

2018

2019

2020

2021

2022

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The Launch Phase: Planting our seed 

eFinance was established to create and operate the government's financial network
and become the driving force behind Egypt’s digital transformation agenda

The Launch Phase: Digital Beginnings

Contracted by the Ministry of Finance to be the government's e-payment hub

Initiated the government payroll project

The Launch Phase: Growing Our Systems

Executed the first e-tax collection

Built the Treasury Single Account system

Started the Pension Automating Project

The Launch Phase: First Payment & Collection

eFinance performs Egypt's first electronic payment order

eFinance completes Egypt's first electronic collection for customs

The Development Phase: Introducing CPS and CAMS

eFinance introduces Corporate Payment Solutions service to the banking sector

CAMS built for the Customs Authority

The Development Phase: Expanding Card and Fuel Management Services

Growing the card center's production capabilities

Began operating the fuel control and management system

The Development Phase: Strengthening Partnerships

Providing more services with Egypt post

Began the Takaful and Karama Project

The Expansion Phase: Supporting Egypt's Agriculture Sector

eFinance establishes the digital infrastructure for the farmer’s card, an essential product that assists farmers in receiving their entitled subsidies and acts as a key vehicle for data collection

The Expansion Phase: Inaugurating a New Era

eFinance's electronic payment system for the government becomes fully operational

The government issues its last manual cheque

The Expansion Phase: Full Speed Ahead

The government financial network is complete

eFinance implements capacity upgrades to the network infrastructure

Implementation of capital increase

Restructuring & IPO Readiness: Modernizing Our Strategy

eFinance was selected as part of the government's privatization program, providing investors with an opportunity to benefit from Egypt's fast-growing digital sector

eFinance executes EGP 300 million capital increase with an eye to operational expansions and organizational restructuring, in line with the Group value enhancement plan

eFinance reformulates its growth strategy to better position the Group to unlock and capture value in Egypt's digital space

Restructuring & IPO Readiness: Transformation & 'Tech-Celeration'

Group spins off lines of business including eKhales, eCards, enable, and eAswaaq into a portfolio of standalone companies

eFinance leverages global boom in digitization following COVID-19 pandemic to expand into e-commerce through the launch of eAswaaq

 Division of eFinance at holding level into eFinance Digital Operations and eFinance Investment Group

New Achievements, New Markets: IPO and Continued Expansion

Historic IPO was completed in October, valuing eFinance at EGP 22.4 billion, and drawing heavy domestic and international interest, with the offering heavily oversubscribed by institutions and retail investors. eFinance closes 2021 with the second-largest market capitalization on the EGX

eTax was launched in cooperation With the Ministry of Finance and the Egyptian Tax Authority to manage and operate the government's electronic tax system and simplify tax processes. eFinance launches eHealth, a platform for the automation and management of Egypt's universal health insurance scheme, in cooperation with the Universal Health Insurance Authority

Purchase of a new HQ building at the Cairo Smart Village to house all eFinance subsidiaries

Renewal of exclusive payment and collections contract for a period of seven years

General Assembly approves ESOP scheme financed through a 4% capital increase

NEW ACHIEVEMENTS, NEW MARKETS: Entering New Ventures and Growing Beyond Our Borders

KSA’s PIF acquires a 25% stake in eFinance, becoming the Group’s single largest shareholder

Launched landmark e-receipt system, and eTax became the sole provider for the e-invoicing system

Secured first-ever contract to connect six million people across five governorates with more than 140 medical units as eHealth gets approval for the first phase of its roll-out

Announced participation in NClude, a venture capital fund aiming to generate long-term capital gains by investing predominantly in early- and growth-stage fintech and fintech-enabled companies based or operating in Egypt and the wider MEA region through a USD 10 million investment

Announced leadership of a USD 3 million financing round for Nexta, a dynamic fintech start-up, which will see the introduction of unique dynamic digital banking services

Established a new line of business for Africa and International Alliances, which will spearhead eFinance’s activity in the region

Signed an MoU in Libya to replicate what eFinance has created for the government’s financial network in Egypt

Secured an agreement with the Tunisian Agricultural Bank to replicate eFinance’s work in the agricultural sector in Egypt