The Nclude Fund, with a capital exceeding USD 105 million, has injected USD 24.5 million into 8 fintech startups, as announced by the Central Bank of Egypt (CBE) in its latest economic magazine edition. This investment aims to foster innovation and encourage foreign investment in Egypt’s growing fintech sector. Notably, for every dollar invested by the fund, five dollars have been reinvested into these startups, demonstrating the substantial impact of the fund.
In response to demands from major shareholders, the CBE approved a shift in the fund’s management in March 2023, transitioning to Development Partners International (DPI), a firm specializing in fintech and focused on attracting foreign investments.
Launched in March 2022, the Nclude Fund is a fintech innovation engine aimed at accelerating Egypt’s transformation into a digital and financially inclusive economy. The fund is also positioning Egypt as the fintech innovation hub of the MENA region. It was launched in collaboration with key institutions, including the National Bank of Egypt, Banque Misr, Banque du Caire, as well as fintech companies like eFinance Investment Group and Mastercard. The initiative is designed to foster innovation in fintech, promote financial inclusion, and bolster foreign investment, further establishing Egypt’s role as a key player in the fintech sector.
