The Banking Executive Magazine - July 2022 Issue

Arab Financial Services Arab Financial Services (AFS) — a leading digital payment solutions provider and fintech enabler in the Middle East and Africa — has an- nounced plans to expand its pay- ments footprint in Egypt with the establishment of a branch in Egypt. AFS Egypt will deliver the latest pay- ments solutions and innovations to the country’s businesses and finan- cial institutions. “The unprecedented growth in the Egyptian market over the past few years has yielded opportunities for all stakeholders in the payments ecosys- tem to expand regionally. Moving into new markets is just the first step of our ambitious growth strategy. However, it’s not just about expan- sion for us, it’s just as much about us being there to serve our customers on a local basis, or regionally for those of our customers with a wider geographic spread, with a real focus on providing service quality and making it easier for our customers to transact,” said CEO of AFS Samer Soliman. “Entering the Egyptian market reflects its importance and potential. It also aligns with AFS’s vision to become the leading enabler for digital trans- action transformation across the Mid- dle East and Africa region,” he added. In this context he announced that “The AFS Board has appointed Taw- fik Mahmoud, an experienced pay- ments expert with a proven track record, to take on the challenge of leading the AFS team in Egypt.” Commenting on his new appoint- ment Tawfik said: “It is a real privi- lege for me to take on this role for, what I consider to be the leading provider of payment solutions across the region with a culture of innova- tion, thought leadership, and real customer orientation.” “It’s my intention to deliver both mass market and tailored payment solutions to reflect the many different types of businesses that operate in Egypt and to leverage the wealth and breadth of products and services AFS has brought and is bringing to the payments market.” Based in Cairo, Tawfik Mahmoud will be responsible for leading the company’s strategy in Egypt, growing the team across the country, support- ing its growth, and scaling Egypt’s merchant clients across all sectors and industries. ISSUE 163 JULY 2022 the BANKING EXECUTIVE 51 Arab Financial Services EXPANDS ITS DIGITAL PAYMENTS SOLUTIONS INTO EGYPT