FinTech News
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Value of Egypt’s electronic payments, collections services reaches LE 2.5tn in 11 months
The electronic payment service for workers' salaries in the country saw a growth rate of 24 percent, amounting to LE 299.4 billion.
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Smart cards manufacturer MDP plans to invest $2 mln in Egyptian market
Smart issuing and payment processing warehouse MDP plans to inject new investments worth $2 million into the Egyptian market.
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Egyptian investtech startup Bokra plans swift Saudi, UAE expansion post-launch
It is the first platform to offer goal-based investment and saving products through asset-backed securities.
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HSBC to back fintech in Egypt with $31 million fund
HSBC Egypt is planning to launch a fund worth EGP 1.5 billion ($31.5 million) to back the fintech sector in the North African country.
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Egypt’s Sahl closes dual rounds at $6 million
Sahl's strategic vision is to become the dominant player in facilitating digital payment transactions within Egypt's booming EGP 2.5 trillion sector.
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Banknbox expands fintech partnerships across 8 countries
Banknbox offers a suite of internally developed digital services, ensuring flexibility, compatibility with customer needs, and cost-effective delivery
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CBE welcomes Kenyan delegation to discuss instant payment innovations
This visit was part of a broader initiative to share Egypt’s pioneering efforts in developing the Instant Payment Network (IPN) and the InstaPay app.
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Valu launches Ulter: Egypt’s first high-end payment solution
Valu has partnered with top-tier merchants in the luxury space to provide customers with a seamless financing experience.
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InstaPay introduces new feature for easier money transfer
The new feature enables the beneficiary to share the QR Code to the other party wishing to transfer the money.
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7 Updates in the Egyptian fintech industry
The fintech sector in Egypt is experiencing rapid growth and transformation, with several significant developments shaping the future of finance.
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Egypt registers 3rd largest volume of real-time payments in Africa in 2023
By 2028, real-time payments are predicted to account for more than one-third of payments in the country.
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Egypt's EFG Hermes acquires minority stake in Danish fintech Kenzi Wealth
The acquisition of a minority stake in Kenzi Wealth represents EFG Hermes’ significant commitment to driving innovation in the fintech sector.
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Payments Fintech Foodics Establishes New Location in Cairo as Part of Expansion Plan into Egyptian Markets
Foodics, the provider of restaurant management and financial tech solutions in the MENA region, has officially inaugurated its new office in New Cairo
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MNZL raises $3.5m to enhance asset-backed lending in Egypt
MNZL, a FinTech startup, has raised $3.5 million to revolutionise asset-backed lending in Egypt and across the MEA region.
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Bitget Wallet witnesses 300 % growth in MENA
Countries in the MENA region such as Egypt and Saudi Arabia are among the top 15 countries for Bitget wallet downloads globally.
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Beltone Launches $100M Private Credit Platform for Egyptian Exporters
BIH is looking to establish a comprehensive facilitatory platform to aid the growth prospects of the Egyptian economy.
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Egyptian fintech MNT-Halan lands $120M from Apis Partners, DisrupTech and others
More than 70% of Egypt’s young and fast-growing population of over 100 million is financially underserved, despite mobile penetration exceeding 90%.
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Egypt-Based Fintech Waffarha Raises Seven-Figure Seed Round
With this funding, Waffarha aims to bolster its technological infrastructure, expand its team and broaden its reach into KSA.
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Egypt's Fawry private offering 15.9 times oversubscribed on stock exchange - statement
Investment bank EFG Hermes said the share price was 6.46 Egyptian pounds ($0.3874) per share.
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Valu Empowers ESLSCA Students with Flexible Payments Solutions
As part of this partnership, Valu will fully fund two full scholarships for exemplary students based on a mix of criteria.