Following this announcement, the strategic investment was approved by AFS shareholders and is expected to significantly optimise the company’s financial position and catalyse its development strategy.
The additional funding round will enable Arab Financial Services to expand its operations, enhance its product offering and suite of solutions, as well as drive innovation in the digital payments landscape. Furthermore, the financial institution will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
AFS represents a company that delivers payment products, services, and expertise to banks, financial institutions, and merchant groups, while also delivering customised payment tools in an increasingly dynamic payment ecosystem.
Throughout this new capital injection, AFS is set to further accelerate its growth and development strategy. The company also plans to expand into new markets, scale up its operations in existing ones, as well as leverage its Payment Services Provider licence in the region of Egypt in order to broaden its scope of activities in the acquiring market. In the UAE area, Arab Financial Services is currently making progress toward launching merchants acquiring tools.
At the same time, AFS is also targeting African markets, aiming to accelerate its growth strategy in its processing business. The investment will provide the company with the possibility to elevate its market position, while also leveraging technology and AI in order to deliver improved value to its shareholders and users through enhanced solutions.
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