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Thursday, 17 October 2019

MasterCard plans to invest EGP 2 bn in Egypt by 2025

INVESTMENT WATCH- Mastercard plans to invest EGP 2 bn in Egypt over the next five to six years, including EGP 500 mn next year, MENA Regional President Khalid Elgibali said at the Egypt Can conference yesterday, according to the local press. Elgibali did not provide further details on what the company will invest in. MasterCard has been looking to work with the CIT Ministry to develop advanced digital payments infrastructure in the new administrative capital. The company also floated plans to introduce e-payment services to the transport and agriculture sectors, and SMEs to expand e-banking, which it projected to double in size before 2022.

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