During the earnings call of MTIE, we delved into their Fintech ventures, particularly the partnership between Basta E-payment and Vodafone Cash. In Vodacom's earnings release, they highlighted the growth rates of Vodafone Cash and the contribution of Egypt to Vodacom's earnings. Ashraf el Ghanam, Chief Investment and Investor Relations Officer, provided insightful answers.
Ashraf explained that the collaboration between Basta and Vodafone Cash involves Cash In/Out services through the Point of Sale (POS). The investment made by Vodafone Egypt in Basata now falls under the umbrella of Vodacom, and the partnership aims to introduce new services to the Egyptian market. This strategic alliance with a key player in the fintech market across the continent adds significant value to their joint efforts.
Ashraf further emphasized the value of the Basta E-payment services, expressing confidence in the investment's potential once the platform services is fully onboard. This development is expected to play a significant role in terms of ROI and earnings for MTIE.
Khaled Mahmoud, CEO of MTIE, revealed that the acquisition of a Jordanian company "Madfoatkom" is expected during next month. Additionally, the Jordanian operator holds a license in Oman, and negotiations are underway for securing another license in Saudi Arabia.
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