Al Baraka Bank Egypt has announced the launch of a cooperation program in the field of foreign trade with Al Baraka Bank South Africa. The initiative aims to enhance economic and financial collaboration between the two branches through Al Baraka’s digital trade platform, as part of the broader Al Baraka Banking Group’s strategy to create
SPAYZ.io, a leading provider of innovative payment solutions, is entering three new African markets – South Africa, Egypt, and Cameroon. The move is part of fintech’s ongoing vision to transform digital commerce in Africa’s emerging markets by offering tailored local payment solutions. SPAYZ.io has been actively assessing countries in the region as part of its
A market view from Norman Frankel, Chief Growth Officer following his recent market visit. Originally published here. For regular visitors to Egypt, Old Cairo rarely changes. Home to the bank’s headquarters for decades, the constant background noise of traffic, the hustle and bustle of trade, narrow streets steeped in history and culture, are in stark
XPay, a fintech startup, has partnered with Huawei Cloud Services to upgrade digital payment systems for businesses in Egypt. The agreement will expand XPay’s digital payment infrastructure by integrating Huawei’s cloud technology. In the official press release, XPay representatives indicated that the firm’s recent results reflect the confidence businesses have shown in its scalable services.
IFC and AWB Egypt (Attijariwafa Bank) announced a partnership to bolster the Bank’s capital position and help it deliver on its strategy to support small and medium-sized enterprises and the growth of climate finance in Egypt. This capital infusion will enhance AWB Egypt’s capacity to expand its lending activities. IFC’s $20 million Tier 2 qualifying
Raenest, the global multi-currency accounts platform for individuals and businesses across Africa, today announced the completion of its $11M Series A funding. The round was led by QED Investors, with participation from Norrsken22. Follow-on investment came from Ventures Platform, P1 Ventures, and Seedstars. This equity-based capital injection brings Raenest’s total venture funding to $14.3M. With
Cairo Amman Bank will leverage Mastercard Move’s money movement capabilities to facilitate the movement of funds from Jordan to 37 countries. The bank will also incorporate Mastercard value-added services like fraud analytics and risk control, the companies said in a Thursday (Jan. 16) press release. “We aim to address existing challenges in cross-border payments and
Paymob, the leading financial services enabler in MENA-P, announces it has been granted the Retail Payment Services License by the Central Bank of the UAE (CBUAE) after successfully meeting all regulatory conditions and requirements through a rigorous approval process. The license authorizes Paymob to offer merchant acquiring, payment aggregation services, and domestic fund transfers within
PayMint, a leading financial technology company, has announced that it has obtained final approval from the Central Bank of Egypt to launch its first Meeza prepaid cards in partnership with Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt). This milestone aligns with the bank’s continuous efforts to collaborate with FinTech companies to provide flexible solutions that
eFinance Investment Group and Cassava Technologies have signed an agreement to explore and identify opportunities for collaboration and joint expansion across Africa. The signing ceremony took place during the 28th Cairo ICT Exhibition and Conference, which President Abdel Fattah El-Sisi hosted. eFinance Investment Group and Cassava Technologies plan to leverage each other’s respective strengths and
