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.

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

Related Topics

Business Plans

12 Reasons You Need a Business Plan

In the new book "Write Your Own Business Plan," business expert Eric Butow breaks down how a solid business plan can save your startup during those tough early days.

Growing a Business

Building an Empire With No Handouts: Follow This Entrepreneur's Roadmap

Charting a course for entrepreneurs determined to achieve big.

Cryptocurrency / Blockchain

Why the Next Crypto Bull Run Will Be Like Nothing We've Ever Experienced

We are on the precipice of what could be the greatest transfer of wealth that has ever happened in human history.

Growing a Business

3 Excellent Problem Statement Examples

A problem statement aims to identify a problem and find a solution. Continue reading for how to write one and examples to base yours on.


It Can Be Hard Raising Capital For a Small Business — But These 3 Ways Really Work.

It can be hard to raise capital for a small local business if you haven't learned the right strategies. Ultimately, however, raising capital is possible at any level — if you employ the correct approach. Here's how.