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.

Ant International will enhance the credit management capability and infrastructure efficiency for Dock clients, comprising of financial institutions, retailers, and fintech start-ups.

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 investment will help close Brazil's social financing gap and bolster a more inclusive economic growth.

Registration is now open for the annual Responsible Finance Forum (RFF) event, convened by the Center for Financial Inclusion at Accion, which will take place July 2-3, 2024 in Fortaleza, Brazil. 

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.

Latin American fintech Clara has launched a payment account in Brazil that it expects will help it reach $1.23 billion in transactions in 2024.

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.