Egypt central bank launches initiative for supporting FinTech-enabled woman entrepreneurs

Doaa A.Moneim , Thursday 4 Apr 2024

The Central Bank of Egypt (CBE) launched on Thursday the "Women for Women in FinTech" initiative to provide innovative solutions for women entrepreneurs across various sectors to help them expand their businesses.

CBE
The Central Bank of Egypt (CBE) headquarters, Cairo, Egypt. Photo: AP

 

The new six-month initiative is part of the “Accelerate'ha" initiative, launched by the CBE in 2021, to accelerate the development of innovative FinTech solutions that meet the needs of women entrepreneurs.

It provides women entrepreneurs with intensive training sessions and workshops on different fields, directing them to adopt innovative FinTech solutions in their businesses.

“This initiative contributes to the efforts aimed at localizing FinTech applications, through supporting the unique potentials and talents of entrepreneurs, specifically female entrepreneurs,” said the CBE’s Deputy Governor Rami Aboul Naga.

Women entrepreneurs will acquire the necessary guidance and skills to implement the "Embedded Finance” solutions, which will greatly help develop their businesses and enable enterprises to capitalize on the embedding payment and embedded lending solutions.

Moreover, the initiative has selected twelve startups to participate and deliver presentations for their new business proposals and visions regarding how to benefit from the embedded lending and payment programmes.

The presenters will receive guidance from top women leaders in the FinTech sector within the financial and banking industry, to assist them expand their businesses in the Egyptian market.

This will also avail matchmaking opportunities to enable collaborations with participating banks for receiving full support.

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