The Clap
Nils Bachtler, CEO of Orascom Financial Holding (OFH), stated that the company intends to invest in its subsidiary Klivvr and launch a venture capital fund.
Klivvr is Orascom’s Focus
Bachtler stated that OFH’s plans are all directed towards Klivvr and having them cover all governorates in the future.
What is Klivvr?
Klivvr is a fintech company established in 2021. The company is a subsidiary of Orascom Financial Holding, which holds an 80% stake in the company.
Klivvr received approval from the payment services sector from the CBE to launch its app and prepaid card.
Launch of Venture Capital Fund
The company is also working on establishing a venture capital fund that specializes in fintech. The fund will have a capital of EGP 300 – 500 million.
In Related News
Bachtler also stated that Orascom’s exit from Beltone was timely and for a fair price.
Orascom Financial: Strong Plans and Ambitions 🌟
