Egypt’s e-finance to launch Khales as independent entity in August

The electronic payments firm seeks to enhance cooperation with Egypt Post

  
Image used for illustrative purpose. Businessman working with laptop computer and digital tablet on table

Image used for illustrative purpose. Businessman working with laptop computer and digital tablet on table

Getty Images/Busakorn Pongparnit

Cairo –  Egypt's e-finance, majority owned by the state-owned National Investment Bank (NIB), announced that its subsidiary Khales payment portal will be an independent entity as of 1 August, local newspaper Akhbar El-Yom reported.

The leading Egyptian financial technology company also seeks to enhance cooperation with Egypt Post, the company’s chairman Ibrahim Sarhan said.

In addition, the electronic payments firm’s plan to float its shares on the Egyptian Exchange (EGX) will contribute to improving corporate governance and diversifying the company’s investments, Egypt’s minister of planning Hala El-Saeed noted.

Source: Mubasher

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