The partnership comes a month after Mastercard partnered with Egypt to digitize the local economy. It aims at giving consumers faster access to digital loans. 

Egyptian software development company egabi FSI and Mastercard recently signed a partnership to expand access to digital lending solutions across Africa, Eastern Europe, and the Middle East. The information was disclosed by Mastercard on Thursday, April 27.

This agreement will lead to the digitization of the lending ecosystem and the introduction of innovative products for “growing segments such as BNPL, microfinance and SME.” 

According to Ahmed Sameh, CEO of egabi FSI, the partnership with Mastercard "reflects the confidence of global financial institutions in egabi FSI as a fintech facilitator and the quality of egabi's products. This partnership will pave the way for greater market coverage and together with Mastercard, we will be able to redefine the digital lending industry in the region."

Under the partnership, “Mastercard will activate egabi’s digital-lending capabilities and assets to provide an end-to-end lending proposition to financial institutions and fintech companies.” The proposition will be “further enhanced by offering Mastercard’s Digital First products to issuers willing to enter the digital lending space.”

This strategic partnership follows partnerships initiated by Mastercard in Egypt to connect and power an inclusive digital economy that benefits everyone, everywhere with secure, simple, smart, and accessible transactions. In March 2023, Mastercard announced a new partnership with the National Bank of Egypt (NBE) to “bring next-level digitization into the Egyptian economy.” Five months earlier, in October 2022, the company partnered with some Egyptian banks to bolster the local fintech ecosystem and boost financial inclusion.

Samira Njoya