Egypt’s e-Fianance increases its authorised capital to EGP 1.5bln

The General Assembly of Egypt’s financial institutions operation company e-Finance has approved the increase of its authorised capital to 1.5 billion Egyptian pounds compared to 500 million pounds in the initial licence.

E-finance’s chairperson Ibrahim Sarhan said that the company has pumped 150 million pounds investments last year in the shape of the capital increase reaching its maximum.

He added duting a press conference that the general assembly approval providing the company the opportunity to attract new investments either among the government IPO programme or in the shape direct investment.