MasterCard re-enforces Commitment to Egypt at Sharm El-Sheikh Summit

By Yomna Yasser On Mar 12, 2015

MasterCard Inc, the world’s No. 2 debit and credit card company, will re-enforce its commitment to Egypt by sharing its expertise on innovation and technology at the forthcoming Egypt’s Economic Summit. This comes following a recent announcement on collaborating with the government to extend financial inclusion to 54 million citizens.

At the conference, Walt M. Macnee, Vice Chairman, MasterCard , will discuss how technology and innovation can help address country’s most pressing problems during a panel session with H.E. Khaled Negm, Minister of Communications and Information Technology, Egypt.

The Egypt Economic Development Conference (EEDC) will be hosted by the country’s President Abdel-Fattah al-Sisi in Sharm El-Sheikh on the 13-15th March 2015. The conference is a key milestone of the government’s medium term economic development plan, which is designed to bring prosperity and improved social services to the people of Egypt and is expected to attract leading global figures from business and politics, apart from providing investment opportunities to domestic and international investors across key sectors.

Earlier this month, MasterCard announced the details of a recent Memorandum of Understanding (MoU) with the Egyptian government that will aim to extend financial services to 54 million Egyptians.

Commenting on the EEDC Magdy Hassan, Country Manager – Egypt, MasterCard said: “We have a long and rich history with Egypt and we are committed to supporting the country and its people by sharing our expertise in technology and innovation. Our partnership with the Egyptian government highlights the optimism we have for the future of the country. The recently signed MoU will further drive financial inclusion by providing access to financial services for millions of under and unbanked Egyptian citizens. This is surely an exciting time for the country and we look forward to being a part of it and the Egypt Economic Development Conference, with the goal of stimulating the economy and enhancing the prosperity of the people of Egypt.”