Egypt’s sovereign fund reportedly eying controlling stake in e-Finance

Sovereign Fund of Egypt is in talks to acquire part of the National Investment Bank’s 69 percent stake in state-owned e-payments platform e-Finance, local press reported on Sunday citing sources with knowledge of the matter.

The sources suggested that the fund is looking to acquire a controlling stake in e-Finance, without determining an exact size.

The potential acquisition will be part of the Egyptian fund’s plans to expand its investments in the non-banking financial services sector, the sources added.

The acquisition is expected to close in the first half of the year.