Ebtikar for Financial Investment, a joint venture between B Investments Holdings and MM Group for Industry and International Trade, raised its stake in Masary by 10.1% to reach 45.8%, the company said in a statement to the Egyptian Exchange (EGX) on Monday.

The statement indicates that the deal was worth EGP 42m, accordingly, it will increase MM Group’s stake in Masary to 35% from 29%.

“The transaction confirms the company’s confidence in investing in Masary, the leading e-payment company in the Egyptian market, with promising opportunities for rapid growth. Masary has 60,000 points of sales across Egypt,” said Aladdin Saba, Chairperson of Ebtikar.