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Equity financing helps companies raise money to fund their working and expansion capital needs via stock issuance.
The new funds will be deployed to deepen the platform’s capabilities, expand its team, and establish its footprint in the Middle East and North Africa (MENA) region and beyond.
FRA Chairperson Mohamed Omran said that the approval will support the Egyptian state’s adoption of a policy providing a remote work environment based primarily on the safe exchange of information and supervision.
The company’s establishment follows on from a Financial Regulatory Authority (FRA) initiative providing further regulation and governance of Egypt’s consumer finance industry, covered by Law Number 18 for 2020 that was issued in March.
Okasha submitted his resignation from the Board of Directors of e-payment services company, Fawry, in March, to establish the Disruptech Fund. Fawry is set to be one of the investors in the new fund, which focuses on investments in Egypt with a target budget of $25m.
Fund’s promotional campaign to start after coronavirus crisis ends
The Citi MENA Fintech Challenge offered the region’s Fintech community the opportunity to put their ideas into practice and come up with innovative solutions around four identified problem statements: digitising cash collections; assured payments, Business to business to consumer (B2B2C) enablement, and digitising trade processes.
The most advanced fintech players in the Egyptian market are the payment service providers and mobile wallets and both have been widely adopted by banks and telecom providers.
MerQ’s participation comes within the framework of supporting the state’s strategy and the Central Bank of Egypt (CBE) to spread awareness of financial inclusion
Bank is launching its FinTech Hub, begins pilot phase in June
Conference focuses on trends, innovations in financial technology
Group renews support to ‘Skills for Success: Employability Programme’ with AMIDEAST
The Fintech accelerator programme is considered the first of its kind in Egypt, and will sustain 11 start-ups, both from Egypt and abroad, to accelerate the Central Bank of Egypt’s goal of making Egypt a global FinTech hub.
The Demo Day comes after a three-month intensive acceleration programme, more than 180 one-to-one matchmaking sessions, awareness, engineering, validation, pitching, and growth-hacking modules, all resulting in 14 proof-of-concept engagements.
Unlike all global players and e-payment processing companies, Vapulus launched its portal without subscription fees and no fixed fees per transaction.
IMF conducted survey on countries’ views on BFA’s priorities
Visa’s fintech fast-track programme empowers start-ups in the region with access to visa net capabilities, the Head of strategic partnerships, fintech, and ventures for Visa Central and Eastern Europe, the Middle East, and Africa (CEMEA), Otto Williams, stated. In an interview with Daily News Egypt, Williams talked about the company’s new fast-track programme, how the …
Regional FinTechs will be able to connect to Visa’s payment network in four weeks
NBE launches first e-service branch; Banque du Caire to introduce first smart branch
Establishment of CVentures is evidence of CIB’s profound commitment towards supporting Egyptian financial sector: Abaza
There is no denying that the world has revolutionised every aspect of modern society, from business to communication to entertainment. With the spread of high-speed internet throughout the entire globe, information is more accessible than ever before. All these lead to increasing numbers of mobile devices and cloud services, cross border payments, decreasing trust in …
Technological solutions, applications will contribute to integration of parallel economy
A15 announces successful sale of 76% stake in TPAY to Helios Investment Partners
Cooperation between two financial services providers required for benefit of all, bankers say
It appears that businesses and individuals in Egypt need to adapt to the new technology by embracing the paradigm shift in financial activity.
Jim Cowles, CEO of Citibank in Europe, Middle East, and Africa (EMEA), expressed his optimism towards the growth of the economy in Egypt and the opportunities it offers for financial transactions.