Amman, Feb. 5 (Petra) – MadfooatCom, the Jordanian electronic payment solutions provider, has announced the completion of a strategic investment agreement with new investors, including Egypt’s Basata Holding, which has acquired a 25% stake, and the Social Security Investment Fund (SSIF), which has acquired 7%.

Additionally, several leading Jordanian banks have joined the company’s investor base, including Arab Bank, Housing Bank for Trade and Finance, Jordan Islamic Bank, and Jordan Kuwait Bank. These institutions have joined existing bank shareholders such as Capital Bank of Jordan, Bank al Etihad, and Cairo Amman Bank, bringing the total banking sector ownership in MadfooatCom to over 50%.

In a statement on Wednesday, MadfooatCom emphasized the strategic significance of this investment, highlighting its role in enhancing cooperation between the Jordanian and Egyptian markets and expanding the company’s operations in existing and new regional markets.

The company explained that this step aligns with its shareholders’ vision, who strongly support the digitization of payments and electronic payment solutions as a key growth sector with tremendous expansion opportunities in Jordan, the region, and beyond.

Founded in 2011, MadfooatCom operates and manages eFAWATEERcom, Jordan’s electronic bill payment system, under the supervision of the Central Bank of Jordan. Launched in 2014, eFAWATEERcom connects banks with billing entities in a secure and unified system, allowing users to view and pay their bills electronically through multiple channels, including ATMs, online banking, mobile payment apps, and electronic payment providers.

Basata Holding, one of Egypt’s largest electronic payment service providers, offers seamless digital payment solutions through a nationwide network of payment channels and point-of-sale terminals. Its services include bill payments, money transfers, digital wallets, and merchant payment solutions.

The transaction was facilitated by Anston Capital Financial Advisory, Al Tamimi & Company Legal Advisory, and the Legal Business Group, alongside the MadfooatCom team.

//Petra// AF
05/02/2025 22:00:26