FABMISR and Cayesh collaborate to promote fintech finance in Egypt.

FABMISRa financial institution based in Egypt, has entered into a strategic alliance with Cayeshplayer in the supply chain finance sector in the country.

The collaboration is designed to introduce tailored lending programs for micro, small and medium enterprises (MSMEs) and utilize FABMISR’s diverse corporate customer base.

More information on the announcement

The initiative plans to invest approximately $21 million in the first year, with the possibility of increasing the fund to $84 million the following year.

The Central Bank of Egypt supports this partnership which represents an important step forward for the Egyptian fintech financial sector. Collaboration A will address the working capital gap, which represents a significant problem for MSMEs in the current economic environment, in order to promote the growth of Egyptian businesses.

The alliance with FABMISR – known for its dynamic SME lending programs – will have a major impact during this period in Egypt’s financial sector. Both financial institutions are seeking to rejuvenate the country’s economic sectors by leveraging technology and implementing financial strategies, ultimately driving sustainable expansion for MSMEs.

This significant investment reflects FABMISR and Cayesh’s unified vision to innovate fintech finance, fostering financial ingenuity, economic development and prosperity across Egypt.

On the panorama of SMEs in Egypt

Egypt is focused on achieving sustainable growth by providing support to micro, small and medium-sized enterprises (MSMEs) despite challenges in accessing finance. The Central Bank of Egypt has identified a gap in loans available to the private sector. The “Egypt Vision 2030” framework highlights the importance of MSMEs in promoting economic growth. The AFC is contributing to Egypt’s financial sector and agribusiness through strategic projects in line with the country’s vision for 2030.

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