President of the National Council for Women, Dr. Maya Morsy, affirmed that the “Tahwesha” initiative is the fruit of cooperation from 2017 between the National Council for Women and the Central Bank of Egypt, where “Tahwesha” was integrated into the national project for the development of the Egyptian family.
Morsy also pointed out that “Tahwesha” or projects of digital savings and loan groups, means financial inclusion for women, in terms of projects, job opportunities, and economic empowerment and growth.
Moreover, the head of the council Women indicated, via a post on her personal Facebook page, that the main goal of “Tahwesha” is to include more Egyptian women in rural villages economically and financially and integrate them into the official banking system, raise awareness and spread financial culture for the targeted women, eradicate digital illiteracy and provide them with high-quality financial services.
In her Facebook post, Morsy continued: What distinguishes this project from other similar savings and lending projects is the qualitative shift in transforming the project’s work mechanisms into a digital model and building its own application and linking it with banks to support non-cash dealing and in line with the state’s trend in transforming into digital Egypt.
According to her statement, this could be done through the use of technology and the digitization of the working mechanism of savings and loan groups.