Egypt’s Sawiris eyes digital banking licence at home

Egyptian business tycoon Naguib Sawiris said on Tuesday he is seeking to apply for a digital banking licence in Egypt.

Orascom Investment Holding (OIH), which Sawiris is the chief executive and managing director, plans to establish a digital bank in Egypt. The Egyptian tycoon said the the banking services sector is one of the key financial investments areas Orascom focuses on.

Orascom seeks to provide expertise it gained after launching a digital bank in Europe in 2017, Sawiris added.