Deputy Governor of the Central Bank of Egypt witnessed the Ceremony for Assigning the Management of the Nclude FinTech Fund to DPI

In a move to bolster FinTech and innovation, accelerate digital transformation, and advance financial inclusion, the Central Bank of Egypt (CBE) has approved Development Partners International (DPI) as the new manager for the "Nclude" FinTech Fund.

This decision, driven by key limited partners, aims to position "Nclude" as the largest FinTech investment fund in the region.

Attracting Foreign Investment and Fostering a Supportive Ecosystem
Mr. Rami Aboulnaga, Deputy Governor of the CBE, witnessed the official signing ceremony. This strategic shift is designed to attract significant new foreign investments into Egypt's FinTech sector, with a targeted capital of USD 150 million for the fund.The "Nclude" FinTech Fund has already proven its effectiveness in drawing foreign capital. For every USD 1 invested by "Nclude" in Egyptian startups, an additional USD 5 has been leveraged from foreign investors into those same companies.Mr. Aboulnaga emphasized the strong commitment of the Egyptian banking sector to embracing emerging FinTech trends. He highlighted that the participation of major Egyptian banks in "Nclude" reflects their dedication to fostering an environment where FinTech entrepreneurs can thrive, ultimately contributing to higher rates of financial inclusion.

Key Partners and Strategic Impact
The "Nclude" FinTech Fund was initially launched with support from leading Egyptian banks, including Banque Misr, the National Bank of Egypt, and Banque du Caire, alongside institutional investors such as the Egyptian Banks Company for Technological Advancement (EBC), e-Finance Investment Group, and Mastercard. This initiative is a cornerstone of the CBE's broader FinTech and Innovation Strategy, designed to improve access to funding for promising FinTech startups.Beyond financial backing, the fund is crucial for nurturing young talent and directing investments towards both local and international FinTech and FinTech-enabled startups looking to operate in the Egyptian market. This move by the CBE and DPI signifies a robust step towards solidifying Egypt's position as a regional FinTech hub.