Mastercard, GIZ Egypt, and ElRehla announce the launch of the third annual fintech retreat
Under the patronage of FinTech Egypt - an initiative by the Central Bank of Egypt - and the Financial Regulatory Authority
The initiative is aligned with Mastercard’s commitment to unlock the next wave of innovation, driving the growth of the fintech sector in Egypt
The Community of Practice retreat will engage all fintech stakeholders in building a healthier, more connected entrepreneurial ecosystem
Cairo, Egypt; 21st May 2023: Mastercard announced a new partnership with GIZ Egypt and ElRehla to launch the third edition of the Fintech Industry Retreat held under the patronage of the Central Bank of Egypt’s (CBE), FinTech Egypt, and the Financial Regulatory Authority (FRA). The event will convene Egypt’s fintech community to network, collaborate, and explore topics relating to the development of the fintech ecosystem, trends, financial services, and technology.
Esteemed regulatory bodies will join the retreat to highlight the regulated landscape to the participating start-ups, helping them identify areas of growth and development. Engagements with the regulators secure an open dialogue with the participants of the retreat, paving the way for an inclusive fintech ecosystem.
Building on ElRehla’s expertise in developing collaborative communities and tailoring unique programs, Mastercard and GIZ Egypt will work together to engage all fintech stakeholders in building a healthier, more connected entrepreneurial ecosystem. The event will serve as an ideal platform to exchange knowledge and insights, facilitate access to resources, and discuss effective ways to address current challenges.
Mastercard brings in global industry expertise running interactive workshops to offer its thought leadership and latest innovative payments & financial technology practices. It will also present its award-winning start-up engagement program, Start Path, designed to raise capital and connect entrepreneurs to the wider payments’ ecosystem enabling FinTechs in Egypt to have wider regional and global access to technology and investment.
“We are happy to welcome the Central Bank of Egypt’s initiative; FinTech Egypt and the Financial Regulatory Authority as part of the event and are excited to partner with GIZ Egypt and ElRehla to contribute to the unprecedented growth of the fintech landscape in Egypt. At Mastercard, we focus on pushing boundaries with disruptive ideas and innovations. Our commitment to develop the sector is driven by our joint mission of raising financial inclusion, closely aligned with our vision of empowering Egypt’s fintech companies to fast-track economic growth,” said Khalid Elgibali, Division President, MENA, Mastercard.
“The Retreat is an essential step towards a more connected Egyptian fintech ecosystem. Bringing together all key players under one roof will help build a mutual understanding of the challenges, opportunities, and capabilities, thus advancing the sustainable development of the industry. Our partnership with Mastercard builds on our commitment to harnessing the power of technology to build a digital, financially inclusive economy in Egypt,” said Andreas Ruepp, Head of the Financial Sector Development Project at GIZ Egypt.
“The Fintech Industry Retreat is a great example of the cooperation between different stakeholders in Egypt’s fintech ecosystem. For the third year, ElRehla is bringing together FinTech key industry leaders, regulators, enablers, investors, start-ups, and financial institutions in one space, to generate shared understandings, build trust and reciprocity, underpin collaboration opportunities, and collective action for mutual benefits, leading systemic change and driving economic growth. In previous years we were able to see tangible results on the level of awareness and work being done in the sector. It is a great microsphere of what, hopefully, will happen in reality,” said Nadine Abukhadra, Head of Growth, ElRehla.
The retreat is part of a year-round enablement program to support financial inclusion and drive economic growth in the country. The two earlier Fintech Industry Retreats have successfully connected 93% of the attendees to new stakeholders, in addition to supporting the launch of new start-ups and innovative products. With participants including representatives of the Central Bank of Egypt, the Financial Regulatory Authority, and the National Telecom Regulatory Authority, the events have also helped shape better policies, frameworks, and project ideas that will improve the market.