The step is part of the Central Bank of Egypt’s (CBE) initiative to promote financial inclusion for farmers, on the occasion of Egyptian Farmer’s Day.

Small and medium-sized enterprises in Romania will improve their access to finance with a new investment that aims to support SMEs, including women entrepreneurs impacted by the COVID-19 pandemic.

New legislation and regulatory changes in Egypt are set to unleash a surge in new fintech investments and change the way the country’s largely unbanked citizens do business, industry players say. 

The program aims to increase income, improve livelihoods in rural areas and achieve financial inclusion for female breadwinners.

The initiative comes as part of Egypt’s fintech and innovation strategy that aims to achieve the state’s goals in using technology, as well as promoting innovation and financial inclusion.

The program is designed to increase climate lending by participating banks in Egypt, Mexico, the Philippines, and South Africa to 30 percent of their portfolios by 2030.

Senior loan equivalent of EUR 2 million to be on-lent to underserved local entrepreneurs to sustain small business operations.

Egyptian fintech Zeal Rewards has raised a seed investment from an angel investor, it announced in a statement to MENAbytes this week.

Subordinated debt totaling $30 million to strengthen capital base and boost bank’s ability to provide local businesses with much-needed financing.

The EUR 27.5 million investment will generate jobs, boost energy-efficiency measures, and help reduce carbon emissions.​