The Central Bank of Egypt (CBE) and the Central Bank of Nigeria (CBN) have announced their intention to collaborate on various areas of fintech and promoting financial inclusion. The agreement was signed by CBE Deputy Governor Rami Aboulnaga and CBN Deputy Governor Aishah Ahmad for the Financial System Stability Directorate during the Seamless North Africa 2023 event in Cairo, themed “The Gateway to Fintech in the Middle East and Africa.”
The collaboration between the two central banks aims to leverage technological advancements and innovation in the financial sector to enhance financial services, expand access to financial products, and foster inclusive economic growth in both countries. By sharing knowledge, best practices, and experiences, Egypt and Nigeria seek to drive the development and adoption of fintech solutions that can address the needs of underserved populations and promote financial stability.
Seamless North Africa 2023 provides a platform for key stakeholders from the fintech industry to come together, exchange ideas, and explore opportunities for collaboration. The event serves as a catalyst for driving digital transformation and financial inclusion across the Middle East and Africa.
The partnership between the CBE and CBN reflects the growing recognition of the importance of fintech in revolutionizing the financial landscape and bringing financial services to previously underserved communities. Through joint efforts, Egypt and Nigeria aim to create an enabling environment for fintech innovation, encourage investment in the sector, and foster the development of a robust and inclusive financial ecosystem.
