Egypt’s Banque du Caire to partner with foreign investor for set up e-payments company

Egypt’s state-owned Banque du Caire will be partnering with an unnamed foreign investor to set up an e-payments company, its head of investments Mohamed Ragai told local newspaper Al Shorouk on Saturday.

Banque du Caire will have a majority stake in the anticipated firm.

The bank received central bank approval for its e-payments licence application late 2020, and launched a remittance transfer service in cooperation with Egyptian digital bill payments firm, Fawry shortly after.