Starting in March 2024, the six-month initiative offers intensive training and workshops to underscore the importance of FinTech and guide entrepreneurs towards adopting these solutions in their ventures. It falls under the broader ‘Accelerate’ha’ initiative, established by the CBE in 2021 to fast-track the development of FinTech solutions tailored for women entrepreneurs.
Deputy Governor Rami Aboulnaga commented, “Aligned with the CBE’s FinTech strategy, this initiative supports the localisation of FinTech applications by nurturing the unique potential of entrepreneurs, particularly women. It aims to furnish them with the necessary skills to leverage FinTech applications and foster synergies between startups and banks through ‘Embedded Finance’ solutions, enhancing startups’ growth prospects amidst the evolving digital economy.”
Participants will learn to implement ‘Embedded Finance’ solutions, which are instrumental in business development and the integration of payment and lending services.
Twelve startups have been chosen from a competitive pool to present their business ideas and strategies for utilising embedded lending and payment services. These entrepreneurs presented their business models to a panel of esteemed women leaders from the CBE, banking, and FinTech sectors.
Following the presentations, the entrepreneurs will receive mentorship from prominent women in FinTech, aiding them in scaling their businesses within the Egyptian market and facilitating partnerships with banks for comprehensive support.
This programme exemplifies the CBE’s commitment to nurturing startups, particularly those led by women, aiming to foster economic and social empowerment for Egyptian women and motivate them to integrate innovative FinTech solutions into their business models.