Cairo – Mubasher: TAQA Arabia has established an Egyptian joint stock firm Aman TAQA for Electronic Payments Technology, with an issued share capital of EGP 20 million, according to a bourse filing.
The newly-developed entity was created with the partnership of Aman Holding for Non-Banking Financial Services Technology and Electronic Payments Company as well as Aman for Electronic Payments Technology Company.
TAQA Arabia holds a 49% stake in the new firm’s share capital, which aims to provide e-payment services.
During the January-June 2023 period, the EGX-listed firm posted consolidated net profit after tax valued at EGP 167.27 million, down 13% from EGP 192.35 million a year earlier.
Revenues increased by 29% to EGP 6.15 billion in the first half (H1) of 2023 from EGP 4.78 billion in H1-22, while the basic earnings per share (EPS) dropped by 13% to EGP 0.12 from EGP 0.14.
