The Clap
e-Finance is turning its head to the Saudi market to become a source of hard currency for the company, due to its shortage in the company’s main market Egypt.
What
Ibrahim Sarhan, Chairman of e-Finance, said that this step will aid the company in generating more revenues and profits thanks to the differences in costs, which will play an influential role for the company.
So What
Sarhan said that the exchange rate represents a great challenge for e-Finance, and increases the company’s expenses, pushing the company to review the impact of hard currency on its projects month by month, and that the company exits from projects that consume a larger amount of hrd currency, and increases the projects that depend on the existing infrastructure.
Now What
The company’s new branch in Riyadh will start its actual operation during Q3 2023.
