CBN, CBE sign MoU to establish Nigeria-Egypt Fintech Bridge to drive financial inclusion
Date: 2023-07-19
The
Central Banks of Nigeria and Egypt have signed a Memorandum of Understanding (MoU)
that will enable both countries to develop expert exchanges in fintech,
innovation, e-payment solutions, and financial inclusion.
Officials
believe that the new agreements will leverage both countries knowledge and experience
to drive breakthroughs in their respective financial technology sectors.
Signed
at the just-ended Seamless North Africa 2023 conference held in Cairo, the MoU
encompasses a broad range of collaborative initiatives, joint registration, innovative
projects, coordinated licensing and supervisory framework, and information
sharing.
Speaking
at a brief signing ceremony, the Deputy Governor for Financial System Stability
at the Central Bank of Nigeria (CBN), Aishah Ahmad was confident that the
partnership will foster innovation and accelerate financial inclusion.
“We look forward to cultivating an innovative space for
fintech startups and entrepreneurs in Egypt and Nigeria to accelerate financial
inclusion, deepen our payment systems and drive economic growth across the
African continent,” she said.
Also speaking, the Deputy Governor of
the Central Bank of Egypt (CBE), Rami Aboulnaga, expressed delight at the
partnership, adding that it would meet the desired expectations.
By: Kanto
Okanta
