Raya Holding formed an e-payments subsidiary called Aman, according to a bourse statement. Aman has an authorized capital of EGP 100 mn and issued capital of EGP 10 mn and expects operations to begin in 3Q2016. Raya says Aman is now in the final stages of planning and staff training. It expects Aman to have investments worth EGP 80-100 mn that will be pumped through Raya.

… On last week’s news that Raya was looking into buying a stake in a Polish pasta maker, Makarony Polskie said it signed a nondisclosure agreement with Raya to maintain “confidentiality during the due diligence checks of Makarony Polskie in regards to negotiations concerning cooperation and the company’s engagement on the African markets.”