By: Islam Fadl
Cairo – Mubasher: Prime Holding is looking to increase the capital of Prime FinTech to EGP 100 million by the end of 2020 from EGP 75 million, the CEO, Mohamed Maher, said.
Prime FinTech has recently launched Endorse, a non-banking financial services company, Maher added on the sidelines of the company’s 25th anniversary celebration event on Tuesday.
There are plans to list Prime FinTech on the Egyptian Exchange (EGX) in 2023, the Executive Chairman of Prime Holding, Sherine El-Kady, said.
The company is the first in Egypt to acquire three non-banking licences, namely financial leasing, factoring, and consumer finance.
During the first nine months of 2020, Prime Holding incurred net losses of EGP 17.08 million, against net profits of EGP 4.29 million in the year-ago period.
