National Bank of Egypt increases Mwasalat Misr’s capital as new shareholder
Published 07 Oct,2021 via Daily News Egypt - The National Bank of Egypt (NBE) has signed an agreement with the Mwasalat Misr company for public transportation, by which the bank will inject new capital into the company in exchange for a 20% stake.
Hisham Okasha, Chairperson of NBE, confirmed that the agreement comes within the framework of the bank’s leading development role in serving the goals of sustainable development and Egypt’s Vision 2030 in the field of developing the passenger transportation system, as the bank aims to invest in the company – as one of the largest mass transportation companies for passengers.
The partnership between the bank and Mwasalat Misr was based on the company’s future vision for the coming years, which includes studying investment in some new strategic projects, expanding the current activities and services it provides, and entering some areas where they were not present.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Daily News Egypt