Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Talaty, a Moroccan fintech company, has secured investment from Witamax and Renew Capital to enhance financial inclusion for SMEs in Morocco and Francophone Africa. The AI-driven platform helps reduce costs and defaults, offering faster credit decisions, and aims to support SMBs with essential financial services across the region.
SuperQi, launched by Qi Card in partnership with Ant International, is a next-generation digital app combining banking and lifestyle services. Aimed at boosting financial inclusion in Iraq, the app offers services like payments, transfers, loans, and mobile recharges. It targets over 15 million users, promoting a cashless society.
Tanmeyah has launched “Stay Savvy,” a mobile hub designed to improve financial literacy and inclusion in Egypt. The initiative provides resources on financial tools, budgeting, and digital payments, empowering small business owners and entrepreneurs with the knowledge to optimize costs, increase profitability, and build sustainable businesses across Egypt.
Egypt has seen a remarkable 181% increase in financial inclusion over the past eight years, with 71.5% of eligible citizens gaining access to banking services. Key initiatives, including targeted events and programs for underserved groups, have contributed to this growth, fostering economic development and access to financial services across the nation.
Egypt has achieved a 181% increase in financial inclusion between December 2016 and June 2024, expanding financial access to 48.1 million citizens. MSMEs have also seen substantial growth, with microfinance funding rising 1,350%. Efforts include expanding financial technology and supporting women’s empowerment and public service improvements.
MNT-Halan, Egypt’s leading fintech company, has entered the UAE market with its innovative Halan Advance salary financing solution. This marks the company’s expansion across the region, bringing financial inclusion, cash flow management, and economic empowerment to underserved communities. MNT-Halan aims to reach 250,000 customers by 2025.
Jordan’s Association of Banks has launched FinApp.jo, the country’s first Financial Awareness Platform, to improve financial literacy and inclusion. The platform, developed with the Central Bank of Jordan and local institutions, focuses on banking, financial literacy, entrepreneurship, and fintech to promote responsible financial behavior and economic growth.
LankaPay has become Sri Lanka’s digital backbone, driving economic growth through secure digital payment solutions. In 2023, its transactions exceeded the nation’s GDP, highlighting its impact on financial efficiency. With innovations like SLIPS, JustPay, and LankaQR, LankaPay is revolutionizing payments, fostering inclusivity, and enhancing government revenue collection.
Sehat Kahani has partnered with Neem to enhance its digital payment solutions, optimizing financial operations and improving the payment experience for patients. The collaboration focuses on digital wellness, seamless transactions, and the introduction of a tailored wallet system, benefiting both patients and corporate clients, especially in rural areas.
Qatar Central Bank has launched a regulatory framework for digital banks to enhance the country’s financial sector. This move supports Qatar’s digital economy and financial inclusion, allowing 24/7 banking through mobile and online platforms. The framework aims to reduce costs and foster innovation in line with Qatar National Vision 2030.