The Central Bank of Nigeria (CBN) and the Central Bank of Egypt (CBE) have signed a memorandum of understanding (MOU) to establish a Nigeria-Egypt FinTech Bridge- a partnership to boost e-payment and financial inclusion in Africa.
CBN disclosed this in a statement on Tuesday at a two-day Seamless North Africa 2023 conference at Egypt International Exhibition Center in Cairo.
Speaking at the event, the CBN Deputy Governor, Financial System Stability, Mrs Aishah Ahmad, who signed on behalf of the CBN, said Nigeria’s apex bank is deeply excited at the partnership.
She said the Country is optimistic that the partnership with Egypt will accelerate financial inclusion, improve payment systems and drive economic growth across the continent.
“We look forward to cultivating an innovative space for fintech startups and entrepreneurs in Egypt and Nigeria to accelerate financial inclusion”, she stated.
On his part, the Deputy Governor of the Bank of Egypt, Mr Rami Aboulnaga, stated that the MoU would yield the desired expectation.
CBN, CBE co-hosted the seamless North Africa 2023 conference in Egypt, which had over 4,000 policymakers, payment service providers, financial institutions and tech startups across Africa.
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