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.

With support from the World Bank, the Western Balkan economies are making significant progress in aligning their national payment systems with EU standards as part of their accession goals.

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

KEP Trust plans to on-lend the proceeds of the senior, unsecured loan to micro-, small and medium-sized enterprises (MSMEs).

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.

The Central Bank of Egypt reports an increase in financial inclusion as total ownership of transactional accounts reach 64.8 percent of the total 65.4 million eligible adult population at the end of 2022.

Egyptian fintech startup Copal has partnered Mastercard to launch a family payments mobile app that brings all family members onto a unified payment platform that is fully managed by parents.

According to the company MNT-Halan provides small- and micro-business lending, payments, consumer finance and e-commerce.