The Clap
Vodafone Egypt got the Central Bank of Egypt’s (CBE) greenlight to boost its stake in Basata Holding for Financial Investments’ e-payment platforms Bee and Masary.
What
The stake will increase from 10% to 20%, yet the exact value of the transaction wasn’t disclosed.
So What
Basata Holding for Financial Investments is a joint venture between EGX-listed companies MM Group and B Investments Holding. In addition, EGX-listed Telecom Egypt owns around 45% of Vodafone Egypt.
Some Context
In April 2022, before e-payment platforms Bee and Masary merged into Basata, Vodafone Egypt acquired 10% of them. Back then, a Vodafone Egypt representative told Enterprise that the company intended to acquire 20% of both firms.
