FinTech Egypt announces “Women for Women in FinTech” to accelerate female entrepreneurs’ growth

Cairo – April 7, 2024: The Central Bank of Egypt’s (CBE) FinTech Egypt recently launched a six-month initiative to support female entrepreneurs in expanding their businesses through FinTech solutions. The initiative is within the CBE’s framework to empower women, according to a statement by the central bank over the weekend.

The “Women for Women in FinTech” initiative falls under the “Accelerate'ha" initiative, launched back in 2021 by the CBE to accelerate the development of innovative FinTech solutions for women-led businesses.

CBE-backed FinTech Egypt announced that the initiative, which began in March 2024, will continue for 6 months, providing female entrepreneurs with intensive training sessions and workshops in different fields, to highlight the significance of FinTech and its positive impact on their businesses.

“This initiative comes within the framework of CBE’s FinTech strategy, and contributes to the efforts that aim to localize FinTech applications, through supporting the unique potentials and talents of entrepreneurs, and specifically female entrepreneurs,” explained CBE’s Deputy Governor, Rami Aboulnaga.

Women for Women in FinTech aims to equip women with the skills to use FinTech applications and achieve the right matchmaking between startups and banks via “Embedded Finance” solutions, bolstering long-term growth for up-and-coming businesses.

According to the statement, 12 startups have been selected to participate in the initiative, delivering pitches to some of the most experienced female leaders from the CBE, the banking sector, as well as FinTech and FinTech-enabled startups.

Alongside presenting their businesses, the startups will be receiving guidance from some of the FinTech sector’s leading women, supporting their growth within the Egyptian market.