In a significant move towards enhancing collaboration between the Egyptian government and global tech giants, Dr. Rania Al-Mashat, Minister of Planning, met with John Huntsman, Vice Chairman of Mastercard and President of Strategic Growth, to discuss strengthening cooperation in digital innovation and transformation. The meeting also saw the participation of key Mastercard executives, including Mohamed Assem, Senior Vice President and General Manager for Egypt, Iraq, and Lebanon, Mai Said, Director of Public Sector for Egypt, Lebanon, and Iraq, Omar Masarweh, Vice President of Government Affairs and Policy for Eastern Europe, the Middle East, and Africa, and Mohamed Hassan, Director of Security Technology.
Enhancing Digital Transformation and Collaboration
The meeting focused on vital topics surrounding Egypt’s digital transformation, including improving government payment systems for startups, enhancing cybersecurity efforts, and empowering small and medium-sized enterprises (SMEs). Discussions also included collaborative initiatives to provide cybersecurity tools and training to help businesses and financial institutions protect themselves against digital threats. Additionally, the conversation covered joint efforts to foster digital skills development and workforce training programs aimed at entrepreneurs and emerging businesses.
Digital Transformation: Catalyst for Egypt’s Planning System
During the meeting, Dr. Rania Al-Mashat emphasized the critical role of digital transformation in improving Egypt’s planning system. She highlighted the government’s efforts to stay abreast of global economic and technological advancements, which is essential for enhancing the effectiveness of development projects. The minister also outlined the government’s priorities to attract both domestic and foreign investments, promote the growth of the private sector, and enhance the country’s overall economic and financial performance to meet the aspirations of the Egyptian people for sustainable development.
Dr. Al-Mashat explained that technology and big data would significantly enhance evidence-based decision-making. By leveraging data platforms and services, decision-making processes would be improved, while predictive analytics and artificial intelligence could support economic forecasting and crisis response. Additionally, she underscored the importance of developing trade strategies to navigate the evolving global economic landscape.
Collaboration with International Development Partners
The minister also outlined the ongoing collaboration with international development partners to establish the “Government Innovation Lab,” which aims to create innovative solutions for government challenges using big data. Dr. Al-Mashat further discussed supporting the launch and monitoring of the “Startup Community Charter in Egypt,” an initiative designed to precisely identify target groups and maximize the economic impact of the startup ecosystem.
Mastercard’s Role in Advancing Egypt’s Digital Economy
John Huntsman, Vice Chairman of Mastercard, emphasized that the company is a leader in payment technology in Egypt, having laid the foundation for a robust digital economy and a secure, interconnected ecosystem. He explained that Mastercard plays a pivotal role in supporting Egypt’s digital economy growth by providing innovative payment solutions that drive business development and financial inclusion.
Huntsman highlighted that Mastercard continues to invest in building public-private partnerships to bolster Egypt’s economic resilience, improve financial health, and address the informal economy. He emphasized that security and protection are top priorities in Mastercard’s efforts to empower innovation in digital payments.
Boosting Cybersecurity and Financial Inclusivity
In line with Egypt’s ongoing commitment to improving its digital infrastructure, Mastercard has been a key partner in developing secure payment systems, enhancing financial inclusivity, and promoting digital solutions that ensure the safety and efficiency of financial transactions. This collaboration aligns with Egypt’s national strategy to modernize payment systems and ensure the country is equipped to meet the challenges of a rapidly evolving digital landscape.
