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.”
El Mallah added:
“We believe the future of digital payments in Egypt will be shaped by the integration of technology, nationwide accessibility, and customer-centric innovation. This acquisition supports our long-term growth strategy, strengthens our ability to serve new merchant and consumer segments, and reinforces our commitment to advancing financial inclusion and accelerating the transition toward a less cash-dependent economy.”
Eng. Ibrahim Sanad, Chairman of Wakty, commented:
“This milestone marks the beginning of a new chapter for Wakty and presents a valuable opportunity to leverage Damen’s technological expertise, operational capabilities, and extensive market presence. We believe this strategic move will enable us to further enhance the services available to our merchant network and respond more effectively to the evolving needs of the Egyptian market.”
Sanad added:
“By bringing together the strengths of both companies, we see significant opportunities for growth, innovation, and broader access to digital payment solutions. We look forward to the positive impact this integration will have on merchants and customers, while contributing to the continued development of Egypt’s digital payments ecosystem.”
The acquisition also reflects Damen’s focus on capitalizing on growth opportunities within the Egyptian market by strengthening the connection between physical point-of-sale networks and emerging digital payment solutions.
Announcing the acquisition during Cairo ICT 2026 further highlights Damen’s commitment to supporting Egypt’s digital transformation agenda and strengthening the role of homegrown fintech companies in developing a more inclusive and efficient digital economy.
About Damen for Electronic Payments
Damen is a leading Egyptian electronic payments and financial technology company and part of Smart Group. The company provides integrated electronic payment and collection solutions through an extensive network serving **more than 110,000 merchants across all 27 governorates of Egypt, ensuring nationwide coverage.
Damen 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 service innovation, nationwide network expansion, and strategic partnerships, Damen is committed to simplifying 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, providing a diverse portfolio of digital payment solutions designed to enable consumers to conveniently and securely settle bills and financial obligations.
Wakty operates a network of more than 15,000 service outlets, offering services including mobile recharge, telecommunications and utility bill payments, university fees, charitable donations, and various government and financial payment services.
Since its establishment, Wakty has contributed to expanding access to electronic payment services and simplifying everyday financial transactions for merchants and consumers, supporting the adoption of digital payments and financial inclusion across Egypt.