{"id":40750,"date":"2025-02-24T18:39:16","date_gmt":"2025-02-24T15:39:16","guid":{"rendered":"https:\/\/entarabi.com\/?p=40750"},"modified":"2025-02-24T18:54:34","modified_gmt":"2025-02-24T15:54:34","slug":"basata-increases-its-stake-in-madfooatcom-to-25","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2025\/02\/basata-increases-its-stake-in-madfooatcom-to-25\/","title":{"rendered":"Basata Increases Its Stake in MadfooatCom to 25%"},"content":{"rendered":"
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  • Basata<\/strong> announces an increase in its stake in MadfooatCom<\/strong> to 25%<\/strong>.<\/li>\n
  • New investors include<\/strong> Social Security Investment Fund (SSIF), Jordan Kuwait Bank, Arab Bank, Housing Bank, and Jordan Islamic Bank<\/strong>.<\/li>\n
  • Jordanian banks now own more than 50% of MadfooatCom\u2019s shares<\/strong>, reinforcing their role in the country\u2019s financial sector.<\/li>\n<\/ul>\n

    Cairo \u2013 February 24, 2025:<\/strong> Basata Payments<\/strong>, a leading Egyptian digital payment company<\/strong>, has announced an increase in its stake in Jordanian-based MadfooatCom to 25%<\/strong>, aiming to strengthen its presence in the Jordanian market<\/strong> and expand its operations in digital payments<\/strong> across the region.<\/p>\n

    This strategic move aligns with Basata\u2019s <\/strong>commitment to advancing financial technology (FinTech), promoting financial inclusion, and supporting digital payment infrastructure in Jordan.<\/p>\n

    Strategic Investment to Enhance Jordan\u2019s Digital Transformation<\/strong><\/span><\/h2>\n

    The deal was executed in collaboration with key Jordanian financial institutions, including:<\/p>\n

      \n
    • Social Security Investment Fund (SSIF), acquiring a 7% stake in MadfooatCom.<\/li>\n
    • Jordan Kuwait Bank.<\/li>\n
    • Arab Bank.<\/li>\n
    • Housing Bank for Trade and Finance.<\/li>\n
    • Jordan Islamic Bank.<\/li>\n<\/ul>\n

      Following this investment, Jordanian banks now collectively own more than 50% of MadfooatCom\u2019s shares, further solidifying their role in accelerating digital financial services within the Kingdom.<\/p>\n

      Expanding Digital Payment Services & Financial Solutions<\/strong><\/span><\/h2>\n

      This investment aligns with Basata\u2019s long-term strategy<\/strong> to expand its financial services across the Middle East<\/strong>. Through MadfooatCom<\/strong>, Basata aims to:<\/p>\n

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      • Enhance transaction efficiency and simplify financial operations.<\/li>\n
      • Expand financial inclusion for individuals and businesses.<\/li>\n
      • Introduce advanced digital payment solutions, including mobile payments, fund transfers, and bill payments.<\/li>\n
      • Empower small and medium-sized enterprises (SMEs) by providing financial tools that improve operational efficiency and foster growth.<\/li>\n<\/ul>\n

        About Basata & MadfooatCom<\/strong><\/span><\/h2>\n
          \n
        • 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.<\/li>\n
        • MadfooatCom, founded in 2011 by Nasser Saleh, is a Jordan-based financial technology company offering instant online bill payment and settlement services.<\/li>\n<\/ul>\n

          This strategic partnership strengthens collaboration between FinTech companies and major banking institutions in Jordan, fostering greater innovation and digital payment adoption across the region.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

          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\u2019s shares, reinforcing their role in the country\u2019s financial sector. Cairo \u2013 February 24, 2025: Basata Payments, […]<\/p>\n","protected":false},"author":37,"featured_media":40744,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1810,1772],"tags":[5619,7338],"class_list":["post-40750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-startups","tag-basata","tag-madfooatcom"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/40750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=40750"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/40750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/40744"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=40750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=40750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=40750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}