Network International Delivers on High Growth Strategy with 2021 Revenue Growth of 24% and Underlying EBITDA Growth of 27%

Posted on by Staff Reporter | 6447 Views | 38 min read

Reported net profit for the year was USD 56.6 million, a significant increase on USD 5.6 million recorded in 2020 Revenue increased 23.7% year on year to USD 352.2 million in 2021 with Middle East revenue increasing 25.0% year on year; Underlying EBITDA[1,2] increased by 27.5% to USD 143.5 million reflecting strong revenue performance and prudent

Mastercard and Fintech Kashat Partner to Expand Financial Services to Egypt’s Unbanked and Underbanked

Posted on by Staff Reporter | 4910 Views | 10 min read

In a move that will see enhanced financial services for people in Egypt, Mastercard and Egyptian fintech Kashat have signed a five-year agreement that will digitize the onboarding, disbursement, and collection processes for MENA’s first nano financial service provider. Kashat will now be able to issue prepaid cards to users and offer them safe and

ABK-Egypt Collaborates with Mastercard to Boost Contactless Payments

Posted on by Staff Reporter | 7153 Views | 12 min read

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt), one of the fastest-growing banks in Egypt, has entered into a strategic partnership with Mastercard to launch “ABK Pay Sticker” – a contactless payment solution to  enable the growth of Egypt’s digital economy, enhance financial inclusion and provide consumers with a seamless payment experience. The latest addition to

Misr Digital Innovation Partners with Mastercard to Provide Egyptian Consumers with a Safe and Seamless Banking Experience

Posted on by Staff Reporter | 7595 Views | 11 min read

Misr Digital Innovation (MDI) is one of Banque Misr Companies, was established to launch the first digital bank in Egypt The seven-year strategic partnership agreement will see Mastercard support MDI with the issuance of debit, credit, and prepaid cards Mastercard will provide MDI with advisory, marketing, and product innovation support The new initiative will drive

Egypt’s MIDBANK Selects Temenos to Power its Digital Transformation

Posted on by Staff Reporter | 6110 Views | 14 min read

Temenos Transact and Temenos Infinity will power the bank’s digital banking transformation to meet customers’ future needs as an agile, high-touch, high-tech bank Temenos, the banking software company, has announced that MIDBANK, a universal bank in Egypt providing retail, corporate, and investment banking services, has selected Temenos’ open banking platform to power its digital transformation.

IPT Africa: Shaping the Future of African Payments with Frictionless End-To-End B2B Transactions

Posted on by Staff Writer | 16474 Views | 12 min read

IPT Africa launched at the recent Africa Fintech Festival (AFF) as it seeks to position itself as the platform for Frictionless African Payments. IPT Africa launched at the recent Africa Fintech festival as it seeks to position itself as the platform for Frictionless African payments, delivering a continent -wide, multi-channel payment platform tailored to the

Congratulations to CR2’s customer CIB, Egypt, as they announce a record-breaking performance in Digital Banking

Posted on by Staff Writer | 4514 Views | 7 min read

CR2 is extremely proud of CIB’s phenomenal growth achieved across its digital banking services. Commercial International Bank Egypt (CIB), Egypt’s leading private sector bank, recently announced exponential growth in its digital banking service for H1 2021, highlighting the success of their long-term digital transformation strategy adopted in 2012. During the period H1 2021, CIB achieved a

Egyptian Fintech MNT-Halan Attracts Circa US$120 Million from Global Investors

Posted on by Staff Writer | 4563 Views | 20 min read

MNT-Halan, Egypt’s leading fintech ecosystem, has announced a circa US$120 million investment by major global and regional growth investors: Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners. In addition, the company has also attracted venture capital backing from Middle East Venture Partners, Endeavor Catalyst, and DisruptTech. This round of investment demonstrates confidence in the fintech opportunity in Egypt and further institutionalizes the capitalization table of MNT-Halan. Previous investors of MNT-Halan have included GB Capital, DPI, Algebra Ventures, Wamda, Nowaisi Capital, Unidelta, Egypt Ventures, Battery Road Digital Holdings, and Shaka VC. Capitalizing on MNT-Halan’s first mover advantage, proprietary and

Mastercard MEA SME Confidence Index: 78% of SMEs in Retail Across Middle East and Africa Optimistic About Future Growth

Posted on by Staff Writer | 1633 Views | 22 min read

78% of SMEs in region’s retail sector are optimistic about the next 12 months, according to Mastercard MEA SME Confidence Index SME confidence levels were highest among businesses in retail, ahead of other sectors, like food and beverage, entertainment, construction, and manufacturing Research identified key areas with the greatest potential for growth with half of

Mastercard Brings Egyptians Closer to Their Passions as It Expands Priceless Platform

Posted on by Staff Writer | 5887 Views | 12 min read

Mayar Sherif and Amir Eid named as Mastercard’s first Egyptian brand ambassadors, joining its global roster including Naomi Osaka and Camila Cabello In line with its ongoing commitment to Egypt, Mastercard has announced the expansion of its globally-renowned Priceless platform in the market to bring people in Egypt closer to their passions. As part of