Egypt’s Ministry of Social Solidarity, the National Council for Women, Nasser Social Bank, and e-Finance Group have formalized a strategic collaboration aimed at providing targeted economic empowerment services to vulnerable families. This initiative forms a critical part of the broader financial strategy for economic inclusion, with a particular focus on uplifting women and enhancing their participation in the formal economy.
The cooperation protocol was officially signed in a ceremony held at the National Council for Women’s headquarters, attended by Dr. Maya Morsy, Minister of Social Solidarity, and Counselor Amal Ammar, Chairwoman of the National Council for Women, alongside Mr. Ibrahim Sarhan, Chairman of e-Finance Investments. The agreement is set to improve access to financial services for nearly 4 million women, marking a pivotal moment in the ongoing efforts to combat poverty and promote financial independence for Egypt’s most marginalized populations.
In her remarks, Dr. Morsy emphasized the profound impact of the protocol, which is designed to transition women from financial vulnerability to economic empowerment. “This collaboration aligns with our vision to integrate women, particularly those in rural areas, into the formal banking sector,” she said. “The Tahwisha digital savings and lending program, developed by the National Council for Women, has already proven to be a successful model for financial inclusion and financial literacy, helping women build savings and access credit within a secure and regulated framework.”
Dr. Morsy further noted that the program is designed to address the specific financial needs of women in Egypt’s rural communities, enabling them to engage in economic activities with increased financial literacy and access to essential services. Through this initiative, the Ministry aims to foster financial inclusion on a national scale while ensuring women can play a crucial role in Egypt’s economic growth.
Counselor Amal Ammar welcomed the signing of the protocol as a vital milestone in the National Council for Women’s mission to economically empower women. She lauded the collaboration’s potential to integrate beneficiaries of Egypt’s Takaful and Karama programs into the Tahwisha platform, a groundbreaking model that has gained international recognition. “This partnership is a significant leap in advancing women’s economic empowerment, not just in Egypt, but across the Middle East and Africa,” Ammar stated. “The Tahwisha program was recently commended at the United Nations Commission on the Status of Women (CSW 69), and today, we continue our efforts to achieve sustainable economic independence for Egyptian women.”
The protocol also marks a historic collaboration between Nasser Social Bank and the National Council for Women. Dr. Morsy highlighted that this partnership is a key component of the Ministry’s broader efforts to promote financial independence for women and strengthen the nation’s social protection systems.
Mr. Ibrahim Sarhan, Chairman of e-Finance, reinforced the importance of this initiative in the context of Egypt’s broader strategic objectives. “This protocol represents a key step in the implementation of the Prime Minister’s directive to harness the state’s infrastructure and promote cooperation between various governmental entities,” Sarhan stated. “By leveraging digital finance solutions, we can expedite the delivery of financial services to those in need, particularly vulnerable families benefiting from social protection programs.”
Sarhan emphasized that e-Finance’s longstanding role as a partner to the government in financial services will continue to support the rollout of this initiative. “As a trusted partner in implementing Egypt’s financial systems, e-Finance is committed to facilitating financial inclusion and empowerment, particularly for the most vulnerable segments of the population,” he added.
This cooperation marks a significant move towards improving the economic prospects of millions of women in Egypt.
