Acquisition adds more than 15,000 service outlets to Damen’s network of over 110,000 merchants across Egypt’s 27 governorates
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 strategic milestone in the company’s expansion plans and its efforts to strengthen its position in Egypt’s digital payments and fintech market.
The acquisition is part of Damen’s broader strategy to accelerate business growth, enhance its operational and technological capabilities, and expand its nationwide merchant network, supporting the development of a more integrated digital payments ecosystem.
Through 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, the company aims to strengthen its geographic reach and expand access to electronic payment and collection services.
The deal will also enable both companies to leverage their combined operational expertise to improve service quality and enhance the customer experience.
Sameh El Mallah: Acquisition Supports Damen’s Vision of an Integrated Digital Payments Ecosystem
Commenting on the acquisition, Eng. Sameh El Mallah, CEO of Damen for Electronic Payments, said the deal represents an important strategic milestone in the company’s growth journey and reflects its vision of building an integrated digital payments and services ecosystem that meets the evolving needs of the Egyptian market.
He added that Damen’s ambitions extend beyond expanding its business footprint, with a continued focus on creating greater value for merchants and customers through ongoing service development and broader accessibility.
El Mallah noted that the future of digital payments in Egypt will be shaped by the integration of technology, nationwide accessibility, and customer-centric innovation.
He added 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 advancing financial inclusion and accelerating the transition toward a less cash-dependent economy.
Ibrahim Sanad: Acquisition Opens a New Chapter for Wakty
For his part, Eng. Ibrahim Sanad, Chairman of Wakty, said the acquisition marks 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 explained that the strategic move will 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 companies creates significant opportunities for growth, innovation, and broader access to digital payment solutions, expressing his expectations for a positive impact on merchants and customers and the continued development of Egypt’s digital payments ecosystem.
The acquisition also reflects Damen’s focus on capitalizing on growth opportunities in the Egyptian market by strengthening the connection between physical point-of-sale networks and emerging digital payment solutions.
Announcing the deal during Cairo ICT 2026 further underscores Damen’s commitment to supporting Egypt’s digital transformation and strengthening 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 nationwide 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 recharge, utility payments, government services, charitable donations, and a wide range of other digital payment and collection solutions.
Through continuous innovation, 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 agenda.
About Wakty
Established in 2015, Wakty is an Egyptian joint-stock company specializing in electronic payment and collection services. It offers a diverse portfolio of digital payment solutions that enable consumers to conveniently and securely settle bills and financial obligations.
Wakty operates a network of more than 15,000 service outlets, providing services such as mobile recharge, telecommunications and utility bill payments, university fees, charitable donations, and various government and financial payment services.
Since its establishment, the company has contributed to expanding access to electronic payment services and simplifying everyday financial transactions for merchants and consumers, supporting digital payment adoption and financial inclusion across Egypt.
