Equity Analysis /
Egypt

e-finance: Initiation of coverage – digitizing Egypt

  • e-finance has successfully managed to provide leading digital payment solutions across the nation

  • We expect revenues to grow at a 5yr CAGR of 43% between 2021-26f and bottom line CAGR of 48.0% between 2021-26f

  • We arrived at a DCF valuation of EGP42.08 billion, implying a FV of EGP23.67 per share, an upside of 20.6%

Al Ahly Pharos Securities Brokerage
10 January 2022