Back to the complete issue
Wednesday, 14 July 2021

CIB launches new services for small businesses

CIB launches new services for small businesses: CIB rolled out yesterday a new business banking segment, dubbed CIB Growth, which will target small companies with an annual sales turnover from EGP 1 mn to EGP 50 mn, the local press reports. The new segment will provide a package of banking products and digital solutions including credit facilities with flexible payment terms, dedicated customer service teams and a secure channel for online salary transfers. Small businesses will also have access to non-financial services at discounted prices including advisory, e-commerce and digital transformation, as well as marketing and market research services.

Other things we’re keeping an eye on this morning:

  • Digital healthcare platform Vezeeta is rolling out a new SaaS product dubbed “Vezeeta-in-a-Box” (pdf) that allows healthcare providers to make real-time bookings, order medication and coordinate telehealth services.
  • The government will provide artificial intelligence training in Arabic under an MoU signed between the Communications Ministry and the National University of Singapore’s AI Singapore center.
  • The Red Sea National Refining and Petrochemicals Company signed an agreement with French company Axens to carry out engineering works at the former’s petrochemical complex in the Ain Sokhna industrial zone. Red Sea and the Suez Canal Economic Zone signed a USD 7.5 bn agreement for the project in May.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.