Arab Financial Services expands its payments footprint into Egypt

By Edlyn Cardoza

Arab Financial Services (AFS), a leading digital payment solutions provider and FinTech enabler in the Middle East and Africa, has announced plans to expand its payments footprint into Egypt with the establishment of its Egypt hub. AFS (Egypt) will deliver the latest payment solutions and innovations to the country’s businesses and financial institutions.

Chief Executive Officer of AFS, Samer Soliman, said: “The unprecedented growth in the Egyptian market over the past few years has yielded opportunities for all stakeholders in the payments ecosystem to expand regionally. Moving into new markets is just the first step of our ambitious growth strategy. However, it’s not just about expansion for us, it’s just as much about us being there to serve our customers on a local basis, or regionally for those of our customers with a wider geographic spread, with a real focus on providing service quality and making it easier for our customers to transact.”

He added, “Entering the Egyptian market reflects its importance and potential. It also aligns with AFS’s vision to become the leading enabler for digital transaction transformation across the Middle East and Africa region.”

In this context, he announced that: “The AFS Board has appointed Tawfik Mahmoud, an experienced payments expert with a proven track record, to take on the challenge of leading the AFS team in Egypt.”

Commenting on his new appointment, Tawfik Mahmoud said: “It is a real privilege for me to take on this role for, what I consider to be the leading provider of payment solutions across the region with a culture of innovation, thought leadership and real customer orientation. It’s my intention to deliver both mass market and tailored payment solutions to reflect the many different types of businesses that operate in Egypt and to leverage the wealth and breadth of products and services AFS has brought and is bringing to the payments market.”

Based in Cairo, Tawfik Mahmoud will be responsible for leading the company’s strategy in Egypt, growing the team across the country, supporting its growth and scaling Egypt’s merchant clients across all sectors and industries.