Egypt, MasterCard ink MoU to drive Financial Inclusion

The Egyptian Government, through the Ministry of Communications and Information Technology, and MasterCard signed Thursday a Memorandum of Understanding (MoU) to help drive financial inclusion and maximize government efficiency.

The MoU was signed by H.E. Atef Helmy, Minister of Communications and Information Technology, and Ajay Banga, Chief Executive Officer at MasterCard, in the presence of Ibrahim Mahlab, Prime Minister of Egypt, and Richard Haythornthwaite, Chairman of MasterCard’s Board of Directors.

The partnership will see MasterCard bring latest payment technology to the market. In addition, the company will help the Egyptian government increase engagement with citizens. MasterCard will also be working alongside Egypt Post to digitalize its customer base, and enable its 4000 branches to offer electronic value-added-services, employee trainings and expert-driven workshops. This will help Egypt Post transition towards cashless payment solutions through the use of mobile phones and credit cards, ultimately improving its services and enhancing convenience.

Atef Helmy, Egyptian Minister of Communications and Information Technology said: “Under the leadership of H.E. Abdel Fattah al-Sisi, Egypt has been undergoing a period of positive change. The President and Government of Egypt believe that Information and Communications Technology plays a vital role in supporting this change and helping us better serve our citizens. This collaboration with MasterCard will help the Government bring innovative new solutions to the Egyptian population.”

Ajay Banga, Chief Executive Officer, MasterCard said: “This partnership highlights our commitment to Egypt and its people. It’s crucial for us to join forces with governments around the world to accelerate positive change for citizens. We have a long and rich history in Egypt, and we are excited about the opportunity to provide more Egyptians with access to financial services.”

Source: Biztechafrica.com