Masroofi: Egypt’s First E-Wallet intended for children-use

“Children of today are the leaders of tomorrow,” is a quote often attributed to Nelson Mandela. Despite many agreeing with the sentiment, only few attempt to prepare these potential leaders for their future lives. In today’s world especially, finances are integral to life, and in order to create a generation that is financially literate, the best way is to prepare them young.

Most children in Egypt grow up with little to no knowledge of handling finances, and absolutely no access to cashless opportunities. Financial education is not common in schooling, and younger generations are given pocket money or ‘edeya (sum given from older family members to younger ones during Eid) with little consideration for promotion of financial literacy.

To address the need of financially including children, Mostafa Abd Elkhabir (36), with over 15 years of experience in market research, and Sayed Hosney El Shemy (40), with nearly 20 years of expertise in software development, launched Masroofi — an e-wallet for younger generations.

As parents, Abd Elkhabir and El Shemy noticed that younger ones enjoy mimicking adults, while the latter appreciate oversight over their children’s spending patterns.