Egypt-based fintech Basata Holding for Financial Payments has increased its stake in MadfoatCom to 25%, solidifying its position in Jordan and aiming to accelerate digital financial inclusion. The partnership will focus on enhancing digital payment services, including online and mobile transactions, money transfers, and bill payments.
The acquisition, made in collaboration with key Jordanian financial institutions such as Jordan Kuwait Bank (JKB) and the Social Security Investment Fund (SSIF), will also support small and medium-sized enterprises (SMEs) by providing digital financial tools to improve operational efficiency and growth.
The banking sector holds over 50% of MadfoatCom, further establishing the company’s importance in Jordan’s financial ecosystem. Aladdin Saba, Chairman of Basata, emphasized the partnership’s potential to introduce innovative financial solutions and drive a more inclusive digital economy in Jordan and beyond. Nasser Saleh, Executive Chairman of MadfoatCom, highlighted that the collaboration will strengthen the company’s leadership in the digital payments sector.
