Cairo, Egypt – In a significant move to drive digital transformation in the Egyptian insurance sector, Al Ahly Momkn has signed a strategic partnership agreement with Al Mohandes Insurance Company. The partnership aims to enhance electronic payment services, offering a seamless and secure payment experience for insurance clients across the country. Under the agreement, clients of […]
Banque Misr’s Mortgage Portfolio hits $413mln for 145,000 clients in 2024
As a leader in the mortgage sector, Banque Misr offers a wide range of mortgage products through Central Bank initiatives and independently, catering to various customer segments both within Egypt and abroad. Date: January 1, 2025 Egypt – Banque Misr has announced a significant increase in its mortgage portfolio, which rose by approximately EGP 3bn […]
Central Bank of Egypt extends fee exemption for digital transfers via IPN, InstaPay for 3 months
Egypt – In line with Egypt’s Vision 2030 to foster digital transformation, the Central Bank of Egypt (CBE) has issued a new set of decrees extending the exemption of fees and commissions for bank transfers made via electronic channels, including internet banking and mobile banking apps in Egyptian pounds. This exemption also applies to all […]
Central Bank of Egypt Increases Transaction Limits for Financial Inclusion Accounts
These changes are part of the CBE’s ongoing efforts to enhance financial inclusion and facilitate greater access to banking services across various sectors. December 30, 2024 The Central Bank of Egypt (CBE) has announced an increase in the maximum transaction limits for financial inclusion accounts, which apply to withdrawals, outgoing transfers, debit operations, and purchases. […]
Flend Secures FRA License as Egypt’s First Digital NBFI for SMEs
Flend, a pioneering digital financing platform specializing in small, emerging, and medium-sized enterprises (SMEs), has achieved a groundbreaking milestone by becoming the first non-bank digital financial institution (Digital NBFI) in Egypt. The license, granted by the Egyptian Financial Regulatory Authority (FRA), empowers Flend to revolutionize the SME financing landscape through cutting-edge digital solutions. As the […]
Egypt’s Klivvr Payments Secures Regulatory Approval to Launch Consumer Finance Company
Klivver Payments Secures Regulatory Approval to Launch Consumer Finance Company [Cairo, Egypt – Klivvr Payments, a prominent fintech company, has received regulatory approval from the Financial Regulatory Authority (FRA) to establish a consumer finance company. This milestone underscores Klivvr’s commitment to expanding non-banking financial solutions, fostering financial inclusion, and empowering customers with innovative and secure […]
MSMEDA Commits $3 Million to Foundation Ventures Fund to Empower Egyptian Startups
Cairo, Egypt – In a significant step toward boosting Egypt’s entrepreneurial ecosystem, the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has announced a $3 million investment in Foundation Ventures Fund. The partnership aims to drive innovation, create jobs, and promote sustainable economic growth in alignment with Egypt’s Vision 2030 strategy. Fueling Egypt’s Startup Ecosystem […]
EdVentures invests six digits in Schoolz and Ibn Sina Training Academy
Cairo, Egypt – EdVentures, the leading EdTech-focused corporate venture capital firm in MENA, has announced six-digit investments in two promising EdTech startups through its innovative EdTech Ventures Studio (EDVS) program. This new funding expands EdVentures’ portfolio to a total of 24 startups. Launched earlier this year in partnership with the Challenge Fund for Youth Employment (CFYE), […]
Beltone announces Board Approval for an additional Capital increase of EGP 10.75bln
Cairo – Beltone Holding (“Beltone” or the “Company”) announces that its Board of Directors has approved to proceed with all legal and regulatory procedures to increase the Company’s capital with an amount of EGP10.75 billion. This decision comes after the successful capital increase of EGP10 billion last year The Board of Directors’ approval supports the […]
Ali Mokhtar recognized as one of Forbes Middle East’s top venture capitalists of 2024
This prestigious recognition celebrates his significant contributions to the MENA startup ecosystem. December 23, 2024 Ali Mokhtar, CEO and Managing Partner of Beltone Venture Capital, has been honored as one of Forbes Middle East’s Top Venture Capitalists for 2024. This prestigious recognition celebrates his significant contributions to the MENA startup ecosystem and his transformative leadership […]