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Damen for Electronic Payments has announced its acquisition of Wakty during an official signing ceremony held on the sidelines of Cairo ICT 2026, marking a new milestone in the company’s expansion strategy and efforts to strengthen its position in Egypt’s digital payments and fintech market.

The transaction forms part of Damen’s broader strategy to accelerate business growth, enhance its technological and operational capabilities, and expand its nationwide merchant network. It is expected to contribute to a more integrated digital payments ecosystem, offering greater accessibility, efficiency and convenience to merchants and consumers.

Wakty’s 15,000 Outlets to Join Damen’s Network

The integration of Wakty’s network of more than 15,000 service outlets into Damen’s ecosystem, which serves over 110,000 merchants across all 27 Egyptian governorates, is expected to expand the company’s geographic reach and improve access to electronic payment and collection services.

The acquisition will also allow both companies to combine their operational expertise to improve service quality and enhance the customer experience.

Damen: Acquisition Supports an Integrated Digital Ecosystem

Eng. Sameh El Mallah, CEO of Damen for Electronic Payments, said the acquisition represents a strategic milestone in the company’s growth journey and reflects its vision of developing an integrated digital payments and services ecosystem that meets the changing needs of the Egyptian market.

He explained that Damen’s ambitions extend beyond expanding its business footprint, with a focus on creating greater value for merchants and customers through continuous service development and wider accessibility.

El Mallah added that the future of digital payments in Egypt will depend on combining technology, nationwide reach and customer-focused innovation. He noted that the acquisition supports Damen’s long-term growth strategy, strengthens its ability to serve new merchant and consumer segments, and reinforces its commitment to financial inclusion and a less cash-dependent economy.

Wakty: Partnership Opens a New Chapter

Eng. Ibrahim Sanad, Chairman of Wakty, described the acquisition as the beginning of a new chapter for the company, providing an opportunity to benefit from Damen’s technological expertise, operational capabilities and extensive market presence.

He said the integration would help enhance the services offered to Wakty’s merchant network and enable the company to respond more effectively to the evolving needs of the Egyptian market.

Sanad added that combining the strengths of both businesses creates opportunities for growth, innovation and broader access to digital payment solutions, with expected benefits for merchants and customers and the wider development of Egypt’s digital payments ecosystem.

Strengthening the Link Between POS Networks and Digital Payments

The acquisition reflects Damen’s strategy to capitalize on growth opportunities in Egypt by strengthening the connection between physical point-of-sale networks and emerging digital payment solutions.

Announcing the deal at Cairo ICT 2026 also highlights the company’s commitment to Egypt’s digital transformation agenda and to supporting the role of local fintech companies in building a more inclusive and efficient digital economy.

About Damen for Electronic Payments

Damen is an Egyptian electronic payments and financial technology company and part of Smart Group. It provides integrated electronic payment and collection solutions through a network serving more than 110,000 merchants across all 27 governorates of Egypt.

The company offers more than 1,500 electronic services, including bill payments, mobile top-ups, utility payments, government services, charitable donations and a wide range of other digital payment and collection solutions.

Through ongoing service innovation, nationwide network expansion and strategic partnerships, Damen aims to simplify everyday financial transactions for merchants and consumers while supporting financial inclusion and Egypt’s digital transformation.

About Wakty

Established in 2015, Wakty is an Egyptian joint-stock company specializing in electronic payment and collection services. It offers a range of digital payment solutions that enable consumers to settle bills and financial obligations conveniently and securely.

Wakty operates more than 15,000 service outlets, providing mobile top-ups, telecommunications and utility bill payments, university fee payments, charitable donations, and various government and financial services.

Since its establishment, the company has worked to expand access to electronic payments and simplify everyday financial transactions for merchants and consumers, contributing to the growth of digital payments and financial inclusion across Egypt.