AAIB signs five-year bancassurance agreement with AXA Egypt for its customers

EGYPT – The Arab African International Bank (AAIB) announced has announced the signing of a five-year bancassurance agreement with AXA Egypt, offering enhanced, outstanding insurance services to its customers. The deal is in line with the bank’s strategy to deliver the best financial and non-financial services and quality products with added-value services to meet its customers’ needs. “We are glad…

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Energy Entrepreneurs Growth Fund secures US$13m donation from FinDev Canada and 2X Canada

AFRICA – FinDev Canada, a financial institution that supports inclusive private sector growth and sustainability in developing markets, and its 2X Canada facility have announced a donation of US$13 million to the Energy Entrepreneurs Growth Fund to finance energy companies. The Energy Entrepreneurs Growth Fund offers financial and technical assistance to early and growth-stage companies that show that they can…

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Egypt’s e-commerce startup Tawfeer and 3attar secure investment

EGYPT – Egyptian online grocery retail startup Tawfeer Market has raised US$500K in a seed round. Alexandria Business Angels Networks contributed to the funding round. Founded by Ahmad Fasseeh, Mahmoud Salah, Mohamed Mansour, Tawfeer operates in Egypt’s second populated city, Alexandria, and became an established brand in the Alexandrian community. The startup was downloaded on more than 100,000 devices, although…

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