Abdulaziz Al-Salloum Acquires 10% GlobalPay Stake

Saudi technology executive Abdulaziz Al-Salloum has acquired a 10% GlobalPay stake as the company accelerates its fintech expansion across Egypt and Saudi Arabia. The transaction agreements were signed in Egypt in the presence of Tamer Shawer, CEO of GlobalPay, and Al-Salloum. The company did not disclose the financial value of the transaction.

GlobalPay stated the move is part of its strategy to strengthen its shareholder base. This investment aims to support growth across fintech, digital payments, and integrated technology solutions.

Expanding the GlobalPay Stake

“We are building a shareholder base that contributes experience, market knowledge, and the ability to support long-term growth alongside capital,” said Tamer Shawer, CEO of GlobalPay. The company is currently headquartered in the UAE and operates in Egypt through MasrPay.

MasrPay develops digital payment acceptance and management solutions for merchants and businesses. The company has also established GlobalPay KSA, known as Alam Al-Dafaa, to develop local fintech solutions in Saudi Arabia.

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Strategic Leadership and Market Expertise

Al-Salloum’s investment comes as GlobalPay works to connect its operations across three key markets. His extensive experience in Saudi Arabia’s technology sector provides the company with critical local market expertise.

Al-Salloum has previously held leadership roles in major firms, including Duroob Technology and AppsPro. During his tenure as CEO of AppsPro, the firm was acquired by Accenture in 2021.

GlobalPay leadership noted that Al-Salloum’s entry supports efforts to link UAE and Egyptian operations with Saudi expansion goals. Tamer Shawer emphasized that every expansion must create real value for the market rather than simply increasing geographic footprint.

Regional MENA Fintech Growth

Ali Taha, chief business officer at GlobalPay, described the transaction as a strategic partnership. He highlighted how Al-Salloum’s technology background reinforces their vision of a regional ecosystem connecting the UAE, Egypt, and Saudi Arabia.

For GlobalPay, the investment adds a seasoned executive to its shareholder base. The immediate focus is how the firm utilizes this relationship to bolster its payments and fintech capabilities across the region.

Why it matters to MENA Fintech

GlobalPay’s presence in the UAE, Egypt, and Saudi Arabia gives it exposure to three high-growth markets. Bringing in a Saudi technology executive provides the local insights necessary to navigate the complexities of the Kingdom's financial landscape.

The transaction reflects a broader regional expansion strategy centered on payments and digital infrastructure. This move underscores the importance of local expertise in scaling fintech solutions throughout the MENA region.