MM Group for Industry and International Trade (MTI) plans to merge its e-payment platforms, Bee and Masary, by 2020, in addition to increasing high-profit-margin products.
Investor Relations and Business Development Manager at MTI, Ashraf El-Ghannam, said the group will focus on enhancing profitability by increasing contribution of high-profit-margin business lines, and replicating MTI’s business model to its recently consolidated subsidiary Qanawat.
Al-Ghannam added that MTI targets to increase its business volume to EGP 20bn by the end of this year or the beginning of 2020.
He noted that MTI intends to develop Ebtikar, a non- banking financial services platform, to focus more on microfinance services.
MTI targets EGP 11.0bn in sales during 2019, including the expected EGP 3.0bn from Qanawat. The gross profit margins are distributed as follows: Samsung Mobile 6%, Huawei Mobile 8%, Qanawat 7%, Bosch 15%, telecom 4.2-4.6%, automotive 15%, and pipes and tractor over 30%.
MTI supports its core operations with a NBFS arm through its investment in Ebtikar.
Masary is an e-payment company with 80.0k points of sale. Bee is a pioneering tech company in payment solutions with 70.0k point of sale.
Tamweel Mortgage Finance is a platform of four companies operating in: leasing, mortgage finance, factoring, and insurance brokerage and collection.
