Raya Holding for Financial Investment will establish a new e-payment company in cooperation with TAQA Arabia, a subsidiary of Qalaa Holdings.
The board of Raya has authorised its non-banking financial services technology and e-payment holding company, Aman, to proceed with procedures to set up the new company, according to a bourse filing on Sunday.
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Aman will hold a 51% stake in the company which has an initial issued and paid-up capital of EGP 20 million, while TAQA will own a 49% stake.
The new company aims to digitalise the energy sector and promote financial inclusion in Egypt through its digital services.
