Latest in Tag: fintech Highlight
Latest in Tag: fintech
UAE-based Fintech Galaxy recently acquired the Egyptian open banking platform Underlie.
The initiative aims to raise awareness for fintech among entrepreneurs across all Egyptian governorates and to encourage affiliated start-ups to develop and implement practical innovative solutions directed towards the facilitation of banking services and increasing access to financial products.
The Fintech challenger aims to redefine the way digital natives and their households deal with money.
Issuance considered largest securitization in Egypt’s microfinance sector, offering was 2x oversubscribed
This represents the first practical application of the recently enacted Fintech Law in Non-Banking Financial Activities.
Her remarks came during her speech at the panel discussion on “Beyond Recovery: the Resilience and Sustainability of the Emerging Fintech Solutions”, as part of the annual meetings of the Islamic Development Bank (IsDB) held in Sharm El-Sheikh under the patronage of President Abdel Fattah Al-Sisi, as part of the 2022 IsDB Private Sector Forum.
Visa Everywhere’ initiative 2022 witnessed a huge traction in Egypt, receiving 270 applications, says Visa Egypt’s Country Manager
As for the educational level, 64% of entrepreneurs have bachelor degrees, while around 33% completed their master’s degrees, and only 3% acquired Ph.D. degrees.
The recently issued report by Fintech Egypt — an initiative powered by the Entral Bank of Egypt (CBE) — revealed an unprecedented growth rate of 300% in investment funding amounts attracted by this sector during 2021 alone.
Participating investment entities also include e-finance, Egyptian Banks Company, and Global Ventures
This year will witness many fintech projects, including instant payment network: Ayman Hussein
The law facilitates access to the largest possible base of customers wishing to benefit from non-banking financial activities, raises their efficiency, and reduces costs. This creates a qualitative leap by providing a license for the practice of four electronic applications, specifically, electronic applications for financial adviser programmes that analyse clients’ data, their current financial status, and future financial goals to provide them with technical advice.
Cash still accounts for more than 90% of transactions in Africa
Step comes in line with Egypt’s plan to transform into regional centre for Arab, African financial technology
MNT Halan, a platform specialized in providing integrated financial services, announced receiving an investment from private funds worth $120m. The new funding round was led by major international and regional investors including Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners. The round also included Middle East Venture Partners; Endeavor Catalyst and …
Move comes as part of company’s efforts to support CBE financial inclusion drive
This partnership marks an important step towards the implementation of the company’s strategy working towards financial inclusion and digital transformation in Egypt’s financial sector.
Initiative organised by FinTech Egypt encourages young talents to participate in creating FinTech innovative solutions, promote financial inclusion
Initiative endorses CBE’s direction in expanding technology, use of convenient financial services to meet market needs, says Rami Abulnaga
NBE’s Tamkeen for microfinance acquires 75% of e-payment company Momken
One major change in the past year has been to turn what we historically did face-to-face into an online activity: and that is using video conferencing for meetings; shopping online; restaurant delivery; day-to-day digital banking; and the list goes on.
Mubasher Capital activates custodian services, gets close to acquiring company for investment funds
Three-day innovation sprint will take place in March 2021
Aboelazm comes with proven track-record extending over 28 years in banking and financial services
Equity financing helps companies raise money to fund their working and expansion capital needs via stock issuance.
The new funds will be deployed to deepen the platform’s capabilities, expand its team, and establish its footprint in the Middle East and North Africa (MENA) region and beyond.
FRA Chairperson Mohamed Omran said that the approval will support the Egyptian state’s adoption of a policy providing a remote work environment based primarily on the safe exchange of information and supervision.
The company’s establishment follows on from a Financial Regulatory Authority (FRA) initiative providing further regulation and governance of Egypt’s consumer finance industry, covered by Law Number 18 for 2020 that was issued in March.
Okasha submitted his resignation from the Board of Directors of e-payment services company, Fawry, in March, to establish the Disruptech Fund. Fawry is set to be one of the investors in the new fund, which focuses on investments in Egypt with a target budget of $25m.
Fund’s promotional campaign to start after coronavirus crisis ends