Damen for Electronic Payments has agreed to acquire Wakty, an Egyptian electronic payments and collection company with more than 15,000 service outlets. Damen announced the deal at a signing ceremony on the sidelines of Cairo ICT 2026 on Monday 9 November 2026.
What is being bought
Damen says Wakty’s outlets will join its ecosystem, which serves more than 110,000 merchants across all 27 Egyptian governorates. Wakty’s chairman, Eng. Ibrahim Sanad, said the deal marks “the beginning of a new chapter for Wakty.”
Arqam Magazine describes Wakty as an Egyptian joint-stock company established in 2015, offering mobile recharge, utility and telecom bill payments, university fees, charitable donations and government payments.
In an interview with ICT Business at the start of the show, Damen’s chief executive, Eng. Sameh El Mallah, said Wakty is strong in Gharbia, Assiut, Qena, Beheira and Dakahlia, with around 4 million customers and close to 900,000 transactions a day. These are company-reported figures we have not verified. He also said Wakty’s merchants have already joined Damen’s network.
Terms not disclosed
The press release gives no price, consideration, stake or closing date, and does not say whether Wakty will keep its brand. Hapi Journal reported after an interview with El Mallah that the deal was carried out through a share exchange. Egyptpedia repeats that account. Neither gives a ratio, a value or a share split.
Damen’s targets
El Mallah told ICT Business that payments processed reached about EGP 40 billion by the end of September 2026, against EGP 23 billion for all of 2025. He said Damen is aiming for about EGP 100 billion in 2027 and that expansion outside Egypt is not in current plans. Hapi Journal’s interview cites a 120 billion EGP target with no stated date; we have not reconciled the two figures. These are company targets, not terms of the Wakty deal.
Context
The StartupList catalogue lists Damen ePayment, based in Giza and founded in 2018. The match with the acquirer named in the release rests on the company name, the merchant footprint and the CEO’s statements; we have not checked a company registry.
Readers should watch for closing terms, the form of the consideration, whether Wakty’s brand and app continue, and whether the 2027 targets are restated after integration.
Sources
- Zawya: Damen announces acquisition of Wakty at Cairo ICT 2026 (company press release, republished 10 Nov 2026)
- Cairo ICT: Damen Acquires Wakty at Cairo ICT 2026 and Targets EGP 100 Billion in 2027 (10 Nov 2026)
- Arqam Magazine: Damen Acquires Wakty, Adding 15,000 Service Outlets Across Egypt (9 Nov 2026)
- Hapi Journal (Arabic): Sameh El Mallah says the Wakty acquisition was carried out through a share swap (9 Nov 2026)
- ICT Business (Arabic): interview with Sameh El Mallah (page dated 7 Nov 2026)
