Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

IDSC: Investments in Fintech Hit 167M

Tue 18 Apr 2023 | 05:29 PM
Ahmed Emam

The Egyptian Cabinet's Information and Decision Support Center (IDSC) said that amount of investments in financial technology reached 167 million$ in the first half of 2022, thus rising 12 times compared to 2017.

This came in the IDSC's analysis of digital financing or financial technology and the innovative applications that contributed to providing financial services for individuals and companies swiftly and at a lower cost.

The centre noted that this promotes financial inclusion and facilitates financial and credit services.

The centre continued that the Central Bank of Egypt launched in 2019 a strategy for getting Egypt to be a regional hub for offering financial technology services.