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CIB-Egypt stresses importance of digital expansion in Africa for financial inclusion

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CIB-Egypt stresses importance of digital expansion in Africa for financial inclusion

Bank participates in Smart Africa’s 9th Board of Directors meeting

Sherif Samy, Chairperson of the Commercial International Bank – Egypt (CIB), participated in the Smart Africa Initiative’s ninth Board of Directors meeting.

The event took place under the chairpersonship of Rwanda’s President Paul Kagame, and in the presence of a number of heads of state and government ministers from 26 African countries.

The meeting discussed a number of files related to expanding African countries’ access to communication and information technology (CIT). It approved a project for the bulk purchase of data transmission capacity, as well as the Digital Africa Academy project.

It also saw the launch of four models for projects related to smart villages, digital identity, broadband data transmission, and the environment for emerging innovation and informatics companies.

Samy emphasised the need to strengthen initiatives supporting financial inclusion, by expanding access to CIT services in Africa.

CIB also participated in the Smart Africa Initiative’s steering committee, represented by Islam Zikra, the bank’s chief executive of data analysis and management.

Zikra indicated that, for the second year in a row, the bank cooperated with the US’ Carnegie Mellon University to offer a Master of Science (MSc) programme in Information Systems at its branch in Africa.

The Smart Africa Initiative, which Egypt joined in 2016 and CIB in 2018, aims to use CIT and digital applications to advance economic and social development in Africa and take on the challenges of sustainable development in the continent.

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