NCW Launches First Savings Application in Egypt “Tahweesha”

by nevine

The National Council for Women launched the first digital savings operation in Egypt on the Tahweesha application, within a digital savings and loan group in the village of Jawad Hosni in the center of Abu Homs in El Behaira.

The decision came within the framework of the national project for the development of the Egyptian family, the presidential initiative, Decent Life, and within the framework of digital savings and lending groups projects implemented by the NCW within the financial and digital inclusion program.

Engineer Amr Suleiman, a member of the Council and Rapporteur of the Environment Committee, expressed his great pleasure at launching digital savings and lending groups and pointed out that the application of Tahweesha is an opportunity to integrate Egyptian rural women into sustainable climate financing projects to achieve a better life for them and their families.

Engy Al-Yamani, National Director of the Financial Inclusion Program and Coordinator of the National Project for the Development of the Egyptian Family in the Council, confirmed that the implementation of the first savings operation on the Tahweesha application in Egypt took place through the financial facilitator and the authorized members of the group creating the first bank account for one of the digital savings and lending groups, “Al-Zuhur Group” in the Abu Homs Center in El Behaira Governorate.

He added that “Tahweesha privilege cards” were extracted for 25 women in the group, and the first of the 52 weekly sessions has already started, and women were able to charge their “privileged cards” through the financial facilitation and the application Tahweesha, followed by a savings operation, and 4 savings sessions were successfully conducted, bringing the balance of the first savings group “Al-Zuhur Group” from savings to 1,000 pounds, and the first loan operation for one of the women in the group was already done.

It should be noted that a live experiment had previously been conducted for the third and fourth phases of the “Tahweesha” application in the presence of representatives from the Central Bank and the United Nations Women’s Agency.

The experiment aimed to test the application’s working mechanism and to ensure that all steps are easily done without errors with the savings group. Loan requests and activation, and the experiment has been completed successfully.

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