Cairo – Mubasher: Raya Holding for Financial Investment will establish a new e-payment company in cooperation with TAQA Arabia, a subsidiary of Qalaa Holdings.
The board of Raya has authorised its non-banking financial services technology and e-payment holding company, Aman, to proceed with procedures to set up the new company, according to a bourse filing on Sunday.
Aman will hold a 51% stake in the company which has an initial issued and paid-up capital of EGP 20 million, while TAQA will own a 49% stake.
The new company aims to digitalise the energy sector and promote financial inclusion in Egypt through its digital services.
It is noteworthy to mention that in 2021, Raya recorded consolidated net profits of EGP 541.38 million, versus net losses of EGP 45.68 million in 2020.
