e-finance mulls acquisition of companies in various sectors

e-finance has launched e-Health in partnership with the Universal Health Insurance Authority

  
A trader works at the Egyptian stock market in Cairo .

A trader works at the Egyptian stock market in Cairo .

REUTERS/Mohamed Abd El Ghany
Cairo – Mubasher: Egypt's e-finance For Digital and Financial Investments responded to news reports about the potential acquisition of a number of companies and the entry of transportation, tourism, and healthcare insurance sectors.

The fintech platform is currently studying the acquisition of existing companies in various sectors that can add value to the shareholders and have a positive impact on the value of the company's shares, the company said in a bourse disclosure on Monday.

Any developments in this regard will be disclosed in a timely manner to the EGX, e-finance noted.

As for taking part in the tourism and transportation sectors, the company clarified that some of its subsidiaries are handling these activities under agreements that were previously signed.

As for healthcare insurance, e-finance has launched e-Health, a new company for the development, management, and operation of health technology and digital solutions, in partnership with the Universal Health Insurance Authority (UHIA). e-finance owns a 35% stake minus one share in e-Health.

In the first half (H1) of 2021, e-finance For Digital and Financial Investments logged consolidated net profits of EGP 275.56 million, up from EGP 152.45 million in the prior-year period, including minority shareholders' rights.

Source: Mubasher

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