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Egypt central bank plans $50mn to $100 mn fintech fund

Central Bank of Egypt (CBE) is set to establish ~$58 million fund (EGP 1 billion) to invest in FinTech startups of the country, CBE’s Sub Governor for Payment Systems and Information.

“Egypt has the success factors that qualify it to pioneer in the financial technology industry, including the huge demand for financial services, strong banking sector, telecommunications companies, electronic payment companies, insurance companies, regulatory institutions, incubators, business accelerators, investors, and small and medium-sized enterprises (SMEs) financiers,” said the CBE executive.

Read more from source article: https://www.menabytes.com/cbe-fintech-fund/

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