Page 101 - AAE PR REPORT - APRIL 2025

4/11/25, 9:39 AM AAFS completes $200m acquisition of BFC
To finance the acquisition, AAFS plans to secure market-based financing under customary terms. The transaction has also received
regulatory approvals, including merger control clearance from the Kuwait Competition Protection Agency (CPA), ensuring compliance
with market regulations.

Operational Synergies
The merger is expected to unlock operational efficiencies by leveraging shared resources and expertise. With a combined workforce of
approximately 6,000 employees—a 25% increase—AAFS aims to enhance service delivery while reducing costs.

BFCGH’s innovative offerings, such as its digital wallet app “BFC Pay,” will complement AAFS’s existing digital capabilities. This
integration aligns with AAFS’s strategy to strengthen its digital footprint while maintaining its extensive physical presence across key
markets.

Regional Leadership

With this acquisition completed, AAFS is poised to become a regional leader in foreign exchange and remittance services. Its expanded
presence in Bahrain—the first GCC country where BFCGH began operations—reinforces its commitment to serving expatriates and
local customers alike.
The deal also positions AAFS as a major player in India’s remittance market, one of the largest globally. By tapping into these markets,
AAFS aims to deliver greater value to shareholders while meeting growing demand for seamless money transfer solutions.

Future Outlook

The acquisition aligns with AAFS’s broader strategy of diversification and innovation. By integrating BFCGH’s operations, AAFS plans
to enhance customer experience through improved technology solutions and expanded service offerings.
Rashed Ali Al Ansari highlighted the long-term vision: “Ultimately, this transaction is designed to deliver sustainable value and optimal
returns for our shareholders.”

As regulatory approvals have been secured and integration plans are underway, industry analysts anticipate that this merger will redefine
the competitive landscape of financial services in the GCC region.
Al Ansari Financial Services’ $200 million acquisition of BFC Group Holdings marks a pivotal moment in its growth trajectory. By
combining their strengths, both companies are set to achieve remarkable milestones in service delivery, market expansion, and financial
performance. As AAFS continues to innovate and expand its footprint across key markets, it solidifies its position as a leader in
remittance and foreign exchange solutions.
This strategic move strengthens regional ties and underscores Dubai’s role as a hub for global financial innovation.

Ayesha Ahmed

https://thegulfentrepreneur.com/aafs-completes-200m-acquisition-of-bfc/ 2/2