Central Bank of Egypt shares financial literacy expertise with Mauritanian delegation
The Central Bank of Egypt (CBE) recently hosted a delegation from the Banque Centrale de Mauritanie (BCM). The visit, conducted in collaboration with the Alliance for Financial Inclusion (AFI), highlighted Egypt’s achievements in financial literacy and women’s economic empowerment.
The peer-learning programme, held at the CBE’s premises, centred on the implementation of effective financial literacy strategies that have propelled Egypt’s financial inclusion rates to 71.5 per cent as of June 2024. The programme showcased Egypt’s success in integrating financial education into broader inclusion initiatives, with special emphasis on women’s empowerment, according to the CBE statement on Sunday.
Spotlight on Financial Literacy and Inclusion
During the exchange, CBE officials provided insights into key factors driving the success of Egypt’s financial literacy programmes. Topics included strategic partnerships with government agencies, large-scale financial awareness initiatives, and the importance of incorporating financial education into nationwide projects. Special focus was given to initiatives such as the Tahweesha Programme, a Digital Village Savings and Loan Association designed to economically empower women.
The programme also explored CBE’s FinTech and Innovation Strategy, showcasing its impact on advancing digital financial literacy through events, initiatives, and tailored education in the FinTech sector. The delegation received training on creating inclusive financial education content and learned about consumer protection efforts, including raising public awareness about financial rights.
Hands-On Learning: Field Visits to Innovation Hubs
As part of the visit, the Mauritanian delegation toured several key institutions to observe Egypt’s financial empowerment ecosystem in action. At the Nilepreneurs Initiative’s headquarters, delegates saw firsthand how entrepreneurs and small enterprises are supported from ideation to implementation, including access to non-financial advisory services through Business Development Services (BDS) Hubs.
The delegation also visited the Egyptian Banking Institute (EBI), where they were introduced to the Finlit Hub, a digital platform offering financial education resources tailored to children, youth, adults, entrepreneurs, and financial service providers. The platform provides engaging content on personal finance management and financial concepts, further underscoring Egypt’s commitment to fostering financial literacy across all societal segments.
Strengthening Ties for a Collaborative Future
The visit reinforced the collaborative efforts between Egypt and Mauritania, underscoring Egypt’s role as a leader in financial inclusion in Africa. By sharing its expertise, Egypt aims to inspire similar progress in neighboring countries, leveraging the power of strategic partnerships, innovative solutions, and inclusive education to foster economic empowerment across the continent.
Attribution: CBE
