Maintaining a low and stable inflation rate is a primary objective of central banks and governments around the world; yet, it is never an easy task due to many factors that can derail it. A high and volatile inflation rate is bad news for the countries’ economic health; it directly hits consumers’ pockets, decreases the […]
In recent years, Egypt has put financial inclusion and the fintech sector at the forefront of its priorities. The Central Bank of Egypt (CBE), along with private and public banks, have participated in multiple global and regional initiatives ameliorate the environment for financial inclusion. In 2017, bank account penetration stood at 33 percent in Egypt,
On Monday, media outlet Bloomberg dropped a headline sending waves through Egypt’s business community: “Gap grows between what investors want, and what Egypt offers”. The referred to the government’s cancellation of three consecutive treasury bond sales due to “unrealistic” yields – or return on investment – offered from investors. Offered yields went over 19 percent,
Online payment gateway PayMe facilitates online payment transactions – and although only launching in July 2017, the startup increased its transaction volume by 400 percent from April till July 2018. This is equivalent to transactions worth a total of LE4 million – which means that 8,000 customers paid 237 merchants through the platform. How does
