Saudi Arabia’s Thiqah to Expand to Egypt
Saudi Arabia’s Thiqah to Expand to Egypt:
In order to promote the company’s entry into the Egyptian market, Cairo-based e-Finance Investment Group and Saudi Arabia’s Thiqah have signed a memorandum of agreement. Thiqah is a provider of commercial services. The deal will make it possible for both businesses to offer integrated technical systems, digital solutions, and electronic payment services to Egypt and Saudi Arabia.
The partnership with Thiqah, according to Ibrahim Sarhan, chairman of e-Finance Investment Group, is completely in line with the Group’s investment strategy. This strategy entails expanding the Group’s activities and business operations outside of Egypt, particularly in markets that offer appealing growth opportunities and enable them to maximize value for shareholders. The partnership will help Thiqah maintain its position in the Egyptian market and make it easier for e-Finance to enter global markets.
Thiqah was set up in 2012 to serve the Saudi market with smart solutions and business services. Thiqah uses the transforming power of agile innovation and helps businesses employ it to handle the problems they face today. They do this by building close relationships with their clients and partners, which helps them work together. They are experts in both data and solution engineering. In the past ten years, they’ve become the partner of choice for public as well as private groups in fields like finance, real estate, and logistics. Since its beginnings in 2012, Thiqah has grown rapidly by offering its partners smart solutions and business services that are tailored to their needs and built on their core values of trust, expertise, and innovation.
e-Finance Investment Group’s Investment Plan for Transforming Egypt’s Financial Sector
Since its launch in 2005, e-Finance has been a key part of building and improving Egypt’s financial network for the government. As innovations in international markets start to have an effect closer to Egypt, eFinance’s investment plan is set up to give the Group a major position in the breakthroughs that will change Egypt’s financial sector.
eFinance wants to create economic synergies between its different lines of business by using the same technology base across all of them. Several of their systems, such as those for e-commerce, aggregation, and smart solutions, can be combined with services from other parts of the eFinance family to create profitable synergies under the Group umbrella.
The cloud infrastructure of eFinance is also a strong base that they hope to use to build a position in Egypt’s financial sector and offer a new set of financial services. Their team is considering various options for this project. The Group is also highly interested in nonbank financial services, which have seen significant growth in recent years. They believe that their digital platforms can complement the more traditional processes currently in use in this market.
Takeaways
The move by Thiqah and e-Finance Investment Group to work together is a big step toward expanding business in the Egyptian market. They plan to provide technical systems, digital solutions, and electronic payment services to Egypt and the Kingdom by combining Thiqah’s expertise in smart solutions and business services with e-Finance’s investment plan for transforming Egypt’s financial sector.
Last Updated on 10 months by News Editor
