ArabFinance: e-finance for Digital and Financial Investments (EFIH) is planning to expand in African countries, Al Mal Newspaper reported, citing a recent report released by Al Ahly Pharos Research.

The company is close to signing a contract with one of the African countries and is expected to disclose further details regarding this matter within the coming few months, the report added.

Moreover, e-finance revealed that it is nearing the signing of a contract in the transport sector to digitalize payments.

It is worth noting that the companys consolidated net profit recorded EGP 374.8 million during the January-September period of 2021, compared to EGP 227.2 million in the corresponding period of 2020.

Founded in 2005, e-finance is the first fintech platform in Egypt and a leading digital payment infrastructures developer.

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