Damen announces acquisition of Wakty at Cairo ICT 2026, strengthening its position in Egypt’s digital payments market

Résumé détaillé

Strategic acquisition brings Wakty's network of over 15,000 service outlets into Damen's ecosystem, which serves more than 110,000 merchants across al...

Cairo, Egypt – 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 significant milestone in the company's growth strategy and its continued commitment to strengthening its position in Egypt's rapidly evolving digital payments and financial technology sector.

The acquisition forms part of Damen's broader strategy to accelerate business expansion, enhance its operational and technological capabilities, and extend its merchant network across Egypt. The move is expected to support the development of a more integrated digital payments ecosystem, delivering greater accessibility, efficiency, and convenience to merchants and consumers.

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 further strengthen the company's geographic reach and expand access to electronic payment and collection services. The acquisition will also enable both businesses to leverage their combined operational expertise to enhance service quality and customer experience.

Commenting on the acquisition, Eng. Sameh El Mallah, CEO of Damen for Electronic Payments, stated:

"The acquisition of Wakty represents an important strategic milestone in Damen's growth journey and reflects our vision of building an integrated digital payments and services ecosystem that responds to the evolving needs of the Egyptian market. Our ambition goes beyond expanding our business footprint; we are equally focused on creating greater value for merchants and customers through continuous service development and broader accessibility."

"We believe the future of digital payments in Egypt will be shaped by the integration of technology, nationwide accessibility, and customer-centric innovation.

"This milestone marks the beginning of a new chapter for Wakty and presents a valuable opportunity to…

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