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The First Egyptian electronic marketplace is underway

VISA, e-finance and British cloudBuy are launching the first Egyptian electronic marketplace to provide jobs and hard currency for Egypt.
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Electronic finance experts e-finance in cooperation with VISA and cloudBuy plan to launch the first Egyptian electronic marketplace to support the Egyptian economy. The project is under the auspices of the Ministry of communication and its main aim is to support SMEs.

The cooperation is part of a government effort to provide jobs and develop the Egyptian economy. This initiative is one of the main plans by the government that should provide 200 billion Egyptian pounds in loans to Egyptian SMEs.

The electronic marketplace will exhibit the products and services of SMEs allowing everyone to view these services and choose the best offer which enhances competition.

The project aims also to support electronic commerce and increase exports of SMEs through connecting it to similar marketplaces in Britain, India and Singapore through the services of VISA.

E-finance is the national expert in terms of electronic payments and finance, that's why it was chosen for this project. The company possess the necessary infrastructure, expertise and cloud computing mastery.

The marketplace is expected to be up and running in the beginning of next year, the project is expected to bring in foreign currency which has been rather scarce in Egyptian markets.