Cairo – Mubasher: CI Capital Holding Company on Tuesday announced that it has acquired an 80% stake in Reefy Micro Finance Enterprise Services Company.

The Egyptian financial services pioneer firm aims at reinforcing its strategy through this acquisition by establishing a non-banking financial services platform to boost the company’s plans for growth, CI Capital highlighted in a statement.

Reefy is the first licensed company in Egypt’s microfinance sector, providing its services to more than 300,000 clients through a network of branches across the country, according to the statement.

Ci Capital seeks to add the microfinance activity to its non-banking financial services, which include leasing services through the Egyptian firm CorpLease Corporate Leasing Co.