IHC subsidiary acquires Egypt microfinance platform Maseera and pledges to invest $1bn

Abu Dhabi-based 2PointZero said the move will help advance financial inclusion in emerging markets

As part of the deal, 2PointZero will launch an Abu Dhabi-based entity under the Maseera Holding name. Victor Besa / The National

Abu Dhabi-based investment platform 2PointZero has acquired Cairo-based digital financial service provider Maseera Holding and revealed plans to invest up to $1 billion over the next few years to support its expansion.

Maseera offers financial services and products to low and middle-income individuals, as well as micro, small and medium-sized enterprises, said Abu Dhabi's International Holding Company – of which 2PointZero is a subsidiary – on Thursday.

As part of the transaction, 2PointZero will launch an Abu Dhabi-based entity under the Maseera Holding name. The move is aimed at expanding financial inclusion, particularly in underserved economies, it said.

In its statement on Thursday, IHC said 2PointZero would invest up to $1 billion in the coming years to support growth at Maseera.

IHC last year announced the formation of 2PointZero as a new holding company with more than Dh100 billion ($27.2 billion) in assets.

The platform covers sectors including private equity and alternative investments, venture capital operations, asset management, financial services (micro financing and insurance), investment banking, securities brokerage and research, artificial intelligence and technology, mineral and resource management, digital and cryptocurrency ecosystems, and mobility.

Companies under 2PointZero include Abu Dhabi-based private investment firm Chimera Investment, as well as its subsidiaries Lunate and Egypt-listed Beltone Holding. International Resources Holding, Sagasse Investments and Citadel Technologies are also part of the holding company.

“Bringing Maseera into the 2PointZero ecosystem is a significant step forward in our mission to drive financial inclusion and empower underserved communities,” said Mariam Almheiri, group chief executive of 2PointZero.

The new partnership will support underserved populations with financial tools by integrating Maseera’s expertise with 2PointZero’s technology and artificial intelligence capabilities, the company said.

Maseera aims to build a “transcontinental” platform, with majority-owned operations spanning multiple countries, initially targeting key markets across Asia and Africa, according to the statement.

Bringing Maseera into the 2PointZero ecosystem is a significant step forward in our mission to drive financial inclusion

Mariam Almheiri,
group chief executive, 2PointZero

IHC, founded in 1999 as part of a move to diversify and develop the non-oil business sectors in the UAE, is among the most valuable listed holding companies in the Middle East with a market capitalisation of Dh880 billion.

It comprises more than 1,000 subsidiaries and plans to expand and diversify its holdings across asset management, health care, property and construction, marine and dredging, IT and communications, financial services, food production, utilities and services.

Some of the companies under IHC's umbrella include Aldar Properties, Modon Properties, Adnec Group, Presight, Al Seer Marine and NMDC Group.

IHC said in November that it would repurchase shares worth Dh1.8 billion as part of its Dh5 billion share buyback programme announced last year. The company is included in the FTSE ADX 15 Index, representing the top 15 largest and most liquid companies on the exchange.