Get All Access for $5/mo

Amazon Invests US$10 Million In Egypt-Based EFG Hermes; Subsidiary valU To Offer Its Consumer Financing Products On Amazon Egypt valU is a fully owned subsidiary of EFG Hermes, the leading investment bank franchise in frontier emerging markets.

By Entrepreneur Middle East Staff Edited by Aby Thomas

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

EFG Hermes

Egypt-based valU Consumer Finance has entered into an agreement with American e-commerce giant Amazon to provide its consumer financing platform as a payment method on the latter's Egypt site.

As a result of this agreement, valU, a fully owned subsidiary of EFG Hermes, the leading investment bank franchise in frontier emerging markets, will make a few of its consumer financing products available to eligible customers on, which will see them being given the option to split the total cost of purchases into multiple payments by using valU.

EFG Hermes and Amazon have also entered into an agreement through which Amazon will acquire US$10 million in EFG Hermes global depository receipts (GDRs) with the option to replace that investment into valU at a later date.

Amazon's investment translates into a stake of 4.255% of the issued share capital of valU, based on its current post-money valuation of $235 million.

Related: Egypt's EFG Hermes Receives Non-Binding Offer For Acquisition Of A Majority Stake From First Abu Dhabi Bank


Sleep In and Make Millions: Why You Don't Need to Wake Up at 5 A.M.

Sleep-loving millionaires share the secrets to their success.


Forget Everything You've Heard About Multitasking. Here's How to Juggle a Busy Day and Still Make Time for Meaningful Work.

Once celebrated, but now increasingly regarded as a bane to productivity, multitasking can actually yield considerable benefits — if it's designed around your unique needs, strengths and creative schedule.

Money & Finance

25 Quotes About Making Money and Keeping Perspective

Success, happiness and money are intertwined but seldom interchangeable.

Thought Leaders

How Success Happened for WebMD and Sharecare Founder Jeff Arnold

Jeff Arnold found success starting WebMD and, most recently, Sharecare.

Business News

Is the AI Industry Consolidating? Hugging Face CEO Says More AI Entrepreneurs Are Looking to Be Acquired

Clément Delangue, the CEO of Hugging Face, a $4.5 billion startup, says he gets at least 10 acquisition requests a week and it's "increased quite a lot."


ChatGPT is Becoming More Human-Like. Here's How The Tool is Getting Smarter at Replicating Your Voice, Brand and Personality.

AI can be instrumental in building your brand and boosting awareness, but the right approach is critical. A custom GPT delivers tailored collateral based on your ethos, personality and unique positioning factors.