• Thursday, 30 May 2019

    Telecom Egypt to launch online TV, mobile wallet services

    State-owned Telecom Egypt’s mobile network operator WE is launching an online TV streaming service and mobile wallet within weeks, CEO Adel Hamed told Youm7. WE Mobile Wallet will be set up in collaboration with Banque Misr amid efforts to support...
  • Wednesday, 22 May 2019

    Egypt pushes for better business environment

    On the government’s mind today: Improving Egypt’s business environment. President Abdel Fattah El Sisi urged his government to make the best use of state resources, expedite efforts to implement financial inclusion, and upgrade the tax system for an improved business...
  • Monday, 20 May 2019

    Fintech in Egypt has the potential to boom

    A deep dive into the state of fintech in Egypt: Egypt’s burgeoning fintech scene could spur growth by helping bring more people and businesses into the formal economy, writes Yasmeen Nabil in Wamda. Earlier this year, the government set up...
  • Sunday, 19 May 2019

    Online platform XPay raises USD 250k in funding

    STARTUP WATCH- Fintech startup XPay has raised USD 250k from two unnamed angel investors shortly after raising a still-not-disclosed sum from EFG EV Fintech, WeeTracker reports. XPay was founded last year and focuses on e-payments for sectors including education. It...
  • Tuesday, 14 May 2019

    Formalizing micro businesses the key to building a strong SME sector

    Formalizing micro businesses is the key to building a strong SME sector: Arab governments should make micro businesses the priority of their financial inclusion efforts, Amr Adly writes for Bloomberg. Micro-sized enterprises employing fewer than five people far outweigh SMEs...
  • Thursday, 9 May 2019

    Egypt’s FRA mulls licensing companies and intermediaries to act as SME lenders

    The Financial Regulatory Authority (FRA) is studying issuing licenses to allow companies and financial intermediaries to extend loans to SMEs, FRA boss Mohamed Omran told MENA, according to AMAY. The move comes as part of the authority’s 2018-2022 strategy to...
  • Monday, 8 April 2019

    CIB Chairman Hisham Ezz Al Arab on economic reform, financial inclusion

    Egypt’s economic reform program is finally beginning to bear fruit as confidence and investment levels increase, our friend CIB Chairman Hisham Ezz Al Arab told The Banker. “Confidence is growing, as reflected in the IMF’s and rating agencies’ positive economic...
  • Wednesday, 27 March 2019

    Balances in e-wallets to become interest bearing?

    The Central Bank of Egypt (CBE) is mulling whether interest should be paid on funds left in e-wallets to give users incentives to activate dormant accounts as part of the country’s financial inclusion drive, sources tell Al Mal. The CBE...
  • Thursday, 21 March 2019

    Egypt’s banks to roll out Meeza debit cards in April to bank account holders

    Local banks will begin rolling out state-backed “Meeza” debit cards in April to bank account holders, according to Al Mal. The Central Bank of Egypt (CBE) is currently in the final stages of licensing the banks, with a target to...

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