Banque Misr buys a stake in digital transformation firm Klayytech

Egypt’s second largest public bank Banque Misr has buoyed a stake in digital transformation company Klayytech, the firm’s founder and chief executive announced at a press conference on Wednesday.

Khaled Abdel Kader did not disclose the amount of the stake or the price at which Banque Misr bought.

The deal came after holding talks for over eight months, Abdel Kader said.

Vice Chairman Akef El Maghraby, vice chairman of Banque Misr, has attended the press conference.

Founded around three years ago, Klayytech is an agile born-in-the cloud digital transformation company, led by senior industry leaders with extensive channel and Microsoft experience in Egypt and North America.