The Mastercard Center for Inclusive Growth and RISE announce significant progress of their joint wage digitalization project in Egypt, which aims to enhance financial inclusion and resilience among garment workers.

The acquisition will support Tamweely’s domestic growth strategy and boost its competitiveness and resilience, enabling it to become one of the country’s leading microfinance providers.

The initiative aims to raise awareness among young people about digital literacy, enhance digital financial inclusion, and encourage youth to join the financial sector and benefit from banking products and services. 

Symbiotics Investments, the leading market access platform for impact investing, has arranged a $5 million green bond for ecoligo Vietnam, a subsidiary of ecoligo GmbH based in Germany.

Through the partnership, the two entities will provide small businesses in South Africa, Nigeria, Kenya, and Egypt with an online platform, powered by SAVA’s Payment Transaction System, that includes digital bank accounts and accounting integration tools.

The integration of MoMo into the Grab app allows MoMo to expand its services on one of the most popular platforms in Vietnam.

Symbiotics Investment granted Money Fellows, an Egyptian fintech, a $2.25 million loan to digitize money circles and expand its operations locally.

The investment will be utilized to fast-track the company's expansion plans and drive innovation across its product portfolio.

The move comes within the framework of the bank’s plans to achieve financial inclusion and boost the sector of micro-sized enterprises in Egypt.

The financial backing aims to enable the microfinance institution to support more SMEs in a context marked by economic challenges in Egypt.