Latest in Tag: fintech Highlight
Latest in Tag: fintech
UAE’s Fintech Galaxy acquires Egypt’s Underlie
UAE-based Fintech Galaxy recently acquired the Egyptian open banking platform Underlie.
FinTech Egypt launches FINTEKRS initiative to encourage start-ups, implement innovative financial solutions
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.
ِEgypt’s fintech startup Nexta secures $3 investment led by e-finance
The Fintech challenger aims to redefine the way digital natives and their households deal with money.
Egypt’s fintech firm MNT-Halan closes $150m securitized bond issuance
Issuance considered largest securitization in Egypt’s microfinance sector, offering was 2x oversubscribed
Egyptian investors to provide investment banking through fintech
This represents the first practical application of the recently enacted Fintech Law in Non-Banking Financial Activities.
Innovation, fintech are key drivers of growth, solutions to development challenges: Al-Mashat
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 believes fintechs have a crucial role to play: Malak El-Baba
Visa Everywhere’ initiative 2022 witnessed a huge traction in Egypt, receiving 270 applications, says Visa Egypt’s Country Manager
Youth represent 50% of fintech founders in Egypt
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.
Egypt witnessed upsurge in fintech investments in 2021
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.
Banque Misr, NBE, Banque du Caire agree to launch $85m MEA-focused ‘Nclude” fund for fintech
Participating investment entities also include e-finance, Egyptian Banks Company, and Global Ventures
CBE leads efforts to promote fintech in local banking market: Sub-Governor
This year will witness many fintech projects, including instant payment network: Ayman Hussein
Fintech law to expand customer base of non-banking activities: FRA
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.
Egypt’s fintech funding expected to hike 919% to $296m in 2021: Citi
Cash still accounts for more than 90% of transactions in Africa
NBE, Banque Misr, Banque du Caire launch EGP 1bn fund to support fintech, innovation
Step comes in line with Egypt’s plan to transform into regional centre for Arab, African financial technology
DisrupTech fintech fund chips in $120m investment in MNT Halan platform
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 …
Network International launches fees waiver initiative for Egyptian fintech sector
Move comes as part of company’s efforts to support CBE financial inclusion drive
Orascom Financial Holding, EXCEL partner to launch fintech company
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.
CBE celebrates winners of ‘FinYology – FinTech for Youth’ Initiative
Initiative organised by FinTech Egypt encourages young talents to participate in creating FinTech innovative solutions, promote financial inclusion
11 FinTech startups showcase solutions for COVID-19 challenges at Innovation Sprint events
Initiative endorses CBE’s direction in expanding technology, use of convenient financial services to meet market needs, says Rami Abulnaga
National Bank of Egypt launches new fintech platform
NBE’s Tamkeen for microfinance acquires 75% of e-payment company Momken
Fierce competition between lenders, Fintech, Big Tech marks financial services post-COVID-19
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.
Brokerage, asset management firms to be replaced by technological apps in 10 years
Mubasher Capital activates custodian services, gets close to acquiring company for investment funds
DFS Lab announces FinTech, Digital Economy Design Sprint to address COVID-19 challenges
Three-day innovation sprint will take place in March 2021
ElGameya appoints Amr Aboelazm as Non-Executive Chairperson, Ahmed Mahmoud as CEO
Aboelazm comes with proven track-record extending over 28 years in banking and financial services
Equity financing best option for fintech firms to fund expansion
Equity financing helps companies raise money to fund their working and expansion capital needs via stock issuance.
NowPay fintech startup raises $2.1m in seed funding round
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 approves draft law regulating fintech in non-banking financial activities
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.
Prime Holding ventures into fintech through newly established company
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.
Disruptech in advanced talks to invest in new fintech start-up
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.
Fawry’s co-founder to establish $25m FinTech-focused VC fund
Fund’s promotional campaign to start after coronavirus crisis ends