Egypt's Gov Launches “Tawteen” Initiative

Egypt's government launched a new retail automation initiative entitled: “Tawteen” on Thursday.

According to IDSC, the initiative aims to stimulate 4 million micro-, small- and medium-sized enterprises (MSMEs) to benefit from technological transformation. It has also been designed to create non-traditional new job opportunities for firms, and open new markets for companies and entrepreneurs.

The new initiative aims to automate 400,000 retailers over three years, IDSC said, noting that Tawteen works to achieve the Egyptian government’s desired goals by working to develop the trading system and achieve greater financial inclusion and digital transformation.

Tawteen also aims to facilitate financing to target merchants through national banks, and in cooperation with various institutions active in the retail sector, IDSC added.

The initiative’s first phase will take place in cooperation with the Information Technology Industry Development Agency (ITIDA) and a number of banks working in the local market.