Ebtikar for Financial Investment, a B Investments portfolio company and a leading investor in the non-banking financial services sector with a shareholder base, announced the acquisition of 33.7% of Masary in a transaction valued at EGP 130m on Monday.
Masary is a leading company operating in the electronic payments sector in Egypt, with around 60,000 points of sale.
The acquisition of Masary marks the fourth investment for Ebtikar within the past year, after its previous investments in TBE Egypt for Payment Solutions and Services (Bee), Vitas Misr for Microfinance, and Tamweel Group, its most recent acquisition.
“The acquisition of Masary positions Ebtikar as one of the leading investors in the electronic payments sector in Egypt,” said Aladdin Saba, chairperson of Ebtikar.
B Investments is an Egypt-based private equity firm and growth capital investor. The company’s portfolio investments include Madinet Nasr for Housing and Development (MNHD), Total Egypt, Giza Systems, Ebtikar for Financial Investment, and Infinity Solar Assets (three solar power generating assets in Benban, Aswan).