• Thursday, 21 March 2019

    Central Bank of Egypt to launch soon EGP 1 bn fund for fintech

    The CBE is embracing fintech: The Central Bank of Egypt is planning to set up an EGP 1 bn fund to back fintech startups, CBE sub-governor for payment systems and business technology Ayman Hussein said earlier this week. The fund...
  • Thursday, 14 March 2019

    Egypt’s incorporation of the informal economy hinges on its investment in digitalization and financial inclusion

    Egypt’s drive to make the informal economy go legit hinges on its investment in digitalization and financial inclusion, our friend Maged EzzEldeen, country senior partner at PricewaterhouseCoopers, argues in a report on the shadow economy. The government, Ezzeldeen says, is...
  • Tuesday, 12 March 2019

    Dutch development bank invests EUR 1 mn in Egypt-based payroll platform dopay

    INVESTMENT WATCH- Dutch development bank FMO announced yesterday it has invested EUR 1 mn in Dopay, a digital payroll and payments platform through which companies can pay their unbanked employees’ salaries, according to an emailed statement. Egypt is Dopay’s first...
  • Sunday, 17 February 2019

    MasterCard looking to work with Egypt to make new capital first “cashless” city

    MasterCard is looking to collaborate with the CIT Ministry to develop advanced digital payments infrastructure in the new capital, Chairman Michael Froman told Minister Amr Tawfik, according to a ministry statement. Froman also presented proposed solutions to introduce e-payments to...
  • Wednesday, 13 February 2019

    Egypt has the makings of a booming fintech industry, says IMF

    Egypt has the makings of a booming fintech industry, says IMF: Egypt has tremendous potential to expand in fintech due to its large economy, mature banking industry, young population, and wealth of human capital, IMF Middle East and Central Asia...
  • Tuesday, 12 February 2019

    Lagarde emphasizes importance of financial inclusion for SMEs

    Lagarde emphasizes importance of financial inclusion for SMEs in the Arab world: IMF managing director Christine Lagarde spoke on Sunday in Dubai about the importance of convincing SMEs to join the formal economy in Arab states, according to Zawya —...
  • Tuesday, 12 February 2019

    What we’re tracking on 12 February 2019

    As we suggested yesterday, it is all oil and gas, all the time with the kickoff of the three-day Egypt Petroleum Show. Among the headlines so far: New energy contracts are nearly ready and will drive investment to undeveloped areas,...
  • Monday, 11 February 2019

    What we’re tracking this week and beyond

    The IMF will present tomorrow a report titled Financial Inclusion of Small and Medium-Sized Enterprises in the Middle East and Central Asia at a seminar taking place at the American University in Cairo’s Tahrir campus, according to a statement.The central...
  • Sunday, 10 February 2019

    What we’re tracking this week and beyond

    The Egypt Petroleum Show gets underway tomorrow at the Egyptian International Exhibition Center. The three-day exhibition includes companies from 13 exhibiting countries. Egypt will issue USD 1 bn worth of one-year USD-denominated T-bills tomorrow, Reuters reports. The IMF will present...

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