Fintech Egypt, a division of the Central Bank of Egypt, recently launched an event called “Women for Women in FinTech”. The main objective of this event is to provide innovative financial solutions to female entrepreneurs, allowing them to expand their businesses in various sectors. This is part of the banking sector’s efforts to empower and support women.
The Central Bank of Egypt launched an initiative in March called “Accelerate ‘ha,” which is aimed at supporting female entrepreneurs.
Over the course of six months, the initiative will host intensive training sessions and workshops in various fields to raise awareness about the importance of financial technology and how it can be used to enhance their business operations. The ultimate goal of “Accelerate ‘ha” is to accelerate the launch of innovative financial technology solutions that meet the specific needs of female entrepreneurs.
“The Central Bank of Egypt has launched an initiative as part of its financial technology strategy. The goal of this initiative is to support fintech localization efforts by fostering the potential and talents of entrepreneurs, especially female entrepreneurs. The initiative aims to help them qualify for the use of fintech applications and achieve integration and compatibility between their startups and banks through “Integrated finance”.
This, in turn, is expected to increase the chances of growth and long-term success for these companies, particularly in light of the increasing reliance on fintech innovations and the continuous development of the digital economy.”
During the event, female entrepreneurs gain the necessary skills to implement Embedded Finance programs that greatly assist business development and enable companies to leverage their considerable potential through payment and lending applications.
Twelve companies were chosen to take part in an event where they will present their business models and ideas on how to benefit from integrated payment and lending programs. They will present their ideas to experienced female leaders from the banking sector, fintech companies, their feeding sectors, and the Central Bank of Egypt.
After the presentations are evaluated, female leaders in the banking and financial technology industry will offer support and assistance to exceptional women entrepreneurs in expanding their businesses in the Egyptian market. They will also facilitate partnerships and collaborations with participating banks to provide the necessary support and care.
The event is a part of the Central Bank of Egypt’s ongoing efforts to promote and support startups, with a special emphasis on those led by women. The goal of these efforts is to enhance the economic and social empowerment of Egyptian women by encouraging them to utilize financial technology and innovative solutions to develop their enterprises.
