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. 

The South African Reserve Bank (SARB) has unveiled an ambitious roadmap that seeks to usher in a cashless era, prioritizing financial inclusion and economic growth.

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 National Treasury yesterday published the Financial Inclusion Policy Framework for South Africa, titled “An Inclusive Financial Sector for All” following the endorsement and approval of the policy framework by Cabinet on 8 August 2023.

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

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. 

Newly launched direct-to-merchant acquiring service in Egypt aims to boost digital payment acceptance in the region.