Cairo – Mubasher: Aman Holding, the business line of the listed Raya Holding For Financial Investments, increased its total capital by EGP 450 million to EGP 1.06 billion, according to a press release.

This hike transaction aligns with Aman’s expansion plan to boost its services and back the development of non-banking financial solutions as well as electronic payments.

It will also reinforce Aman’s commitment to its digital transformation journey while anchoring its position in the Egyptian market.

Hazem Moghazi, CEO at Aman, said: “This increase in capital fosters our subsidiary companies.”

“We are allocating an EGP 150 million capital increase to Aman for Financial Services, EGP 100 million to Aman for Consumer Finance, EGP 50 million to Aman for E-Payments, EGP 70 million to Aman for Microfinance, and an additional EGP 80 million for investments in Saudi Arabia,” Moghazi added.

The CEO previously highlighted that Aman injected investment value at EGP 90 million in 2022 to widen its physical presence, technology, and financial services portfolio.

Last month, Aman allowed donations to the Palestinian people through its mobile application or electronic points of sale (EPOS) without additional fees.