Funding is one of the significant pillars of the CBE's strategy for FinTech and innovation. The Central Bank of Egypt is currently studying the initiation of an investment vehicle with a capital of 1 billion Egyptian pounds, to support innovative FinTechs and FinTech-enablers domains. The investment vehicle can be established through the investment arms of some commercial banks that possess the cadres and expertise necessary to operate and manage it.
Objectives of the Investment Vehicle
Increase investments targeting emerging FinTech startups, especially those in their early stages.
Activate the financial technology industry in the Egyptian market.
- Support innovation in the banking and financial services sectors.
- Promote digital transformation and raise financial inclusion rates.
- Transform Egypt into a regional hub for the financial technology industry.