Three Egyptian banks launch US$85M MEA-focused fintech fund

EGYPT – Egypt’s largest national banks; Banque Misr, National Bank of Egypt, and Banque du Caire, have partnered with Global Ventures to launch fintech-focused investment fund Nclude, following approval by the Central Bank of Egypt. The fund is an implementation of the country’s strategic vision to support young innovators, with Nclude by Global Ventures to focus on accelerating fintech innovation…

Read More

JumiaPay partners National Bank of Egypt to offer financial services

EGYPT – Jumia, a Pan-African eCommerce platform, has partnered with the biggest state-owned bank in Egypt, the National Bank of Egypt (NBE), to offer some financial services via its payment channel and business line, JumiaPay. This partnership comes after the NBE obtained an approval-in-principle from The Central Bank of Egypt (CBE) to engage JumiaPay in processing off-the-platform payments for third-party…

Read More

IFC commits to support clean tech startups to boost solar energy uptake in Egypt

EGYPT —IFC, a member of the World Bank Group, has committed to support clean technology startups in Egypt to help boost solar energy uptake in the country. IFC in a statement said that it is joining forces with the National Bank of Egypt and the Micro, Small and Medium Enterprise Development Agency (MSMEDA) to help strengthen clean-energy focused startups in…

Read More

National Bank of Egypt partners IFC to boost funding for solar-powered water pumps

National Bank of Egypt partners IFC

EGYPT – The National Bank of Egypt (NBE) and the International Finance Corporation (IFC) have partnered to boost funding for solar-powered water pumps in Egypt. A report by Egypt Today said that the two financial institutions signed a cooperation agreement early this month, to formalise the partnership on funding solar-powered water pumps. NBE Chairman Hisham Okasha during the signing ceremony,…

Read More