News & Press Releases

EFIG, A Fortune 500 Arabia Company!

eFinance Investment Group was chosen to be a part of the prestigious Fortune 500 Arabia list, joining this prestigious ranking in its inaugural edition is a recognition by Fortune Arabia and it underscores our company's impact on the region's economy and society. The group has made its debut in the list in 2023, reflecting our leading position as a digital transformation enabler. The first edition of Fortune 500 Arabia was launched this year, presented in both Arabic and English versions through Fortune Arabia by Majarra. It features the 500 largest companies in the Arab region from the Middle East and North Africa. The data collection process for the list follows strict guidelines and is based on nine months of thorough and proven research to guarantee accuracy. This ensures that only the most impactful companies are part of this classification.

EFIG signs an MoU with Saudi "Thiqah" to expand business outside of Egypt

EFIG took its first step towards expanding its business beyond the borders of Egypt and penetrate the Arab and African markets, The Group signed an MoU with the Saudi Company “Thiqah Business Services”, which specializes in providing innovative digital transformation solutions and digital services to the public and private sectors in Saudi Arabia. This agreement will result in maximizing returns for our shareholders and securing foreign currency sources of revenue. The MoU between EFIG and the "Thiqa" comes within the framework of both parties' continuous efforts to strengthen international partnerships and benefit from each other’s expertise and experiences in the smart solutions field, in addition to improving and developing digital services in the Arab world. Ibrahim Sarhan, Chairman and CEO of EFIG, expressed his pride in signing the MoU with Thiqa, adding that the Saudi market is one of the fastest growing markets in this period and has unlimited growth potential, making it the first choice for the group to expand abroad.    The MoU was signed by Mr. Mahmoud Hosny, Chief Investment & Strategic Planning Officer of EFIG and Eng. Bader bin Abdullah Al-Omari, CEO for Commercial and Strategic Partnerships at THIQAH Business Services in the presence of Eng. Hossam EL-Goly, CEO of eFinance.

Prime Minister Honors eFinance as part of the National Initiative for Green Smart Projects

eFinance, a subsidiary of eFinance Investment Group, received the honoring of Prime Minister Dr. Mostafa Madbouly during the conference of the National Initiative for Green Smart Projects in the presence of several government ministers and leaders of international organizations in light of the company's efforts and participation in the initiative by replacing cars working with fuel with others that work with natural gas. Prime Minister Dr. Mostafa Madbouly honored Mr. Ibrahim Sarhan, Chairman and CEO of eFinance Investments Group, for its great role in the initiative during which eFinance provided many digital transformation processes and efforts to ensure the facilitation of procedures and the success of the implementation of the system in accordance with the latest digital systems and mechanisms. The ceremony took place in the presence of Dr. Hala El-Said, Minister of Planning and Economic Development, Ambassador Sameh Shoukry, Minister of Foreign Affairs, Dr. Rania Al-Mashat, Minister of International Cooperation, Dr. Yasmine Fouad, Minister of Environment, Dr. Amr Talaat, Minister of Communications, Major General Hisham Amna, Minister of Local Development, Prof. Dr. Mahmoud Mohi eldin, UN Climate Change High-Level Champion for Egypt at COP, and Dr. Maya Morsi, President of the National Council for Women in Egypt. eFinance has played a pivotal role in the construction, management and operation of the natural gas replacement system of cars since its launch, and its social, environmental and industrial dimensions have contributed mainly to reducing carbon emissions and reducing environmental pollution caused by the exhaust of old cars as well as reducing the operating costs of these cars. The Auto Replacement Initiative has so far succeeded in receiving more than 40,000 applications on the website, and more than 21,000 obsolete cars that were a major cause of environmental pollution in Egypt have been scrapped, as well as replacing those cars with environmentally friendly natural gas using ones supporting the economic and social dimension of that initiative. eFinance's efforts towards climate-supporting projects reflects full commitment to the United Nations’ recommendations for climate change, revealing the efforts of the state and its institutions in supporting climate issues over the past years within the framework of Egypt's Vision 2030, and in conjunction with the preparations for the COP27 climate summit hosted by Egypt in Sharm el-Sheikh. Mr. Ibrahim Sarhan expressed the Group's pride in this prestigious honor with a selection of Egyptian government ministers and under the patronage of His Excellency President Abdel Fattah El Sisi, which pushes us all towards more work and dedication in the service of smart green projects, which have long been the basis, goal and common denominator in all the Group's works and projects.

EFIG launches The Biggest Multi Cloud Platform in Egypt

EFIG announces the launch of the first biggest multi cloud platform in Egypt during the activities of our strategic partnership with Cairo ICT 2022 exhibition, in partnership with 13 leading global companies in technology and cloud hosting services as follows: F5, Redhat, Huawei, Pure storage, Dell, IBM, Cisco, VMware, Commvault, BMC, Fortinet, Paloalto & Citrix. For the first time, the group was able to bring together all these leading global institutional expertise in the fields of technology and integrated cloud computing within one project led by "eFinance" to serve the digital transformation operations in Egypt with the most advanced and latest global technologies in a way that suits the needs of various sectors, ministries, institutions, ,public and private sectors companies. The multi cloud platform will offer a unique package of multiple products and services, The platform has been equipped with the latest secure computing technologies, and the provision of multiple digital services including the latest software, cloud platforms, cybersecurity applications, artificial intelligence, big data processing, and others. Ibrahim Sarhan, CEO and Chairman of the Board of Directors of eFinance Investment Group said that this platform reflects the great leap achieved by the group in developing its cloud computing services system, as it succeeded in supporting it with large investments to upgrade its necessary infrastructure, in cooperation with major international institutions and companies, to contribute to advancing digital transformation in Egypt. He added that the tremendous development carried out by the group will contribute mainly to supporting the efforts of the Central Bank of Egypt for digital transformation and serving digital banks and startups in the field of financial inclusion, where cooperation between the group and the Central Bank in those areas, and the integrated cloud computing from eFinance will provide its services to banks in line with all standards, requirements and requirements of digital transactions for the banking sector. Moreover eFinance has obtained the quality certificate in operating cloud computing ISO 20001 and many international certificates from the largest technology companies specialized in the field of cloud computing to be among the top 200 cloud computing providers globally in a market with more than ten thousand service providers globally, which contributes to achieving the highest level of service performance, availability, insurance and ensuring business continuity while reducing time and internal costs.

29 February 2024

EFIG is Continuing to Break Records!

eFinance Investment Group delivered another record high year in terms of revenue, net profit, and margin expansions across the board, as revenue expanded by 47% y-o-y to EGP 3.9 billion and adjusted net profit reached an all-time high of EGP 1.5 billion an increase of 61% y-o-y with a margin expansion to 39.2%. EFIG announced today its standalone and consolidated results for the year ended 31 December 2023. The Group’s consolidated revenues grew by 47.5% y-o-y to EGP 3,898.6 million, driven by solid results across its portfolio of subsidiaries. On the profitability front, the Group EBITDA rose by 64.5% y-o-y to EGP 1,836.6 million, yielding an EBITDA margin expansion of 4.9 percentage points to 47.1% in FY2023. At the bottom-line, e-finance’s net profit after NCI witnessed a substantial 56.4% y-o-y increase to EGP 1,257.7 million, with an associated y-o-y net profit margin expansion of 1.9 percentage points to 32.3% in FY2023. Adjusted net profit, which adds back non-cash ESOP expense on an after-tax basis, reached EGP 1,529.3 million in FY2023Commenting on the Group’s performance, EFIG's Chairman & CEO Ibrahim Sarhan said: “The Group’s consistent strong performance underscores its ability to meet operational, financial, and strategic objectives amidst an ever-changing macroeconomic landscape. Despite market fluctuations in Egypt, due to heightened inflationary pressures and local currency devaluation, the Group successfully navigated through these obstacles with resilience and determination, culminating in a robust performance for FY2023.Click Here for the full Earnings Release