- Basata announces an increase in its stake in MadfooatCom to 25%.
- New investors include Social Security Investment Fund (SSIF), Jordan Kuwait Bank, Arab Bank, Housing Bank, and Jordan Islamic Bank.
- Jordanian banks now own more than 50% of MadfooatCom’s shares, reinforcing their role in the country’s financial sector.
Cairo – February 24, 2025: Basata Payments, a leading Egyptian digital payment company, has announced an increase in its stake in Jordanian-based MadfooatCom to 25%, aiming to strengthen its presence in the Jordanian market and expand its operations in digital payments across the region.
This strategic move aligns with Basata’s commitment to advancing financial technology (FinTech), promoting financial inclusion, and supporting digital payment infrastructure in Jordan.
Strategic Investment to Enhance Jordan’s Digital Transformation
The deal was executed in collaboration with key Jordanian financial institutions, including:
- Social Security Investment Fund (SSIF), acquiring a 7% stake in MadfooatCom.
- Jordan Kuwait Bank.
- Arab Bank.
- Housing Bank for Trade and Finance.
- Jordan Islamic Bank.
Following this investment, Jordanian banks now collectively own more than 50% of MadfooatCom’s shares, further solidifying their role in accelerating digital financial services within the Kingdom.
Expanding Digital Payment Services & Financial Solutions
This investment aligns with Basata’s long-term strategy to expand its financial services across the Middle East. Through MadfooatCom, Basata aims to:
- Enhance transaction efficiency and simplify financial operations.
- Expand financial inclusion for individuals and businesses.
- Introduce advanced digital payment solutions, including mobile payments, fund transfers, and bill payments.
- Empower small and medium-sized enterprises (SMEs) by providing financial tools that improve operational efficiency and foster growth.
About Basata & MadfooatCom
- Basata was established in 2009 following the merger of Masary and Bee, positioning itself as a leading digital payment platform in Egypt, specializing in bill payments, e-wallets, and supply chain financial solutions.
- MadfooatCom, founded in 2011 by Nasser Saleh, is a Jordan-based financial technology company offering instant online bill payment and settlement services.
This strategic partnership strengthens collaboration between FinTech companies and major banking institutions in Jordan, fostering greater innovation and digital payment adoption across the region.
