Latest news with #Nclude
Daily News Egypt
14-06-2025
- Business
- Daily News Egypt
CBE Deputy Governor attends ceremony appointing DPI as new manager of ‘Nclude'
As part of ongoing efforts to support fintech innovation, drive digital transformation, and advance financial inclusion in line with international best practices, the Central Bank of Egypt (CBE) has approved a request from key limited partners of the 'Nclude' fintech fund to appoint Development Partners International (DPI) as its new fund manager. Rami Aboulnaga, Deputy Governor of the CBE, witnessed the official signing ceremony marking the fund's transition to DPI management. This strategic step aims to attract greater foreign investment into Egypt's fintech sector and supports the fund's ambition to become the largest fintech-focused investment fund in the region, with a target capital of $150m. The Nclude fund has already demonstrated a significant multiplier effect, with every $1 invested by the fund helping to attract an additional $5 in foreign capital to startups operating in the Egyptian market. Commenting on the development, Deputy Governor Rami Aboulnaga said: 'The participation of Egyptian banks in the Nclude Fund underscores the banking sector's strong commitment to embracing emerging fintech trends and staying aligned with global developments. This fund plays a vital role in providing fintech entrepreneurs with the supportive environment they need to launch innovative solutions in Egypt and contributes meaningfully to achieving our targeted financial inclusion goals.' The fund's launch was initially backed by some of Egypt's leading financial institutions—including Banque Misr, the National Bank of Egypt, and Banque du Caire—as well as institutional investors such as the Egyptian Banks Company for Technological Advancement (EBC), e-Finance Investment Group, and Mastercard. This initiative complements the CBE's broader strategy to expand access to funding for fintech startups, a cornerstone of its fintech and innovation strategy. Beyond financial support, Nclude also plays a critical role in nurturing young talent and directing investment towards both local and international fintech and fintech-enabled startups looking to establish operations in Egypt. The post CBE Deputy Governor attends ceremony appointing DPI as new manager of 'Nclude' appeared first on Dailynewsegypt.
Zawya
13-06-2025
- Business
- Zawya
CBE appoints DPI as manager of Nclude FinTech Fund
Arab Finance: The Central Bank of Egypt (CBE) has approved the request from key limited partners of the Nclude FinTech Fund to name Development Partners International (DPI) as the new fund manager, according to a press release. The appointment aligns with the ongoing efforts to support companies operating in the fintech sector, accelerating digital transformation and promoting financial inclusion. This move aims to attract new foreign investments in the fintech landscape, backing the fund's objectives to become the largest FinTech-focused fund across the region, with a targeted capital of $150 million. The fund played an effective role in drawing foreign investments to this sector, where every $1 invested by Nclude in startups operating in the Egyptian market has leveraged an additional $5 from foreign investors into those startups. Rami Aboulnaga, Deputy Governor of the CBE, commented: "The participation of Egyptian banks in the 'Nclude' fund reflects the banking sector's strong commitment to investing in emerging FinTech trends and keeping pace with global trends in these promising sectors, especially by fostering a supportive environment for FinTech entrepreneurs to launch their solutions in Egypt, contributing to achieve targeted financial inclusion rates." The launch was backed by Egypt's leading banks, including Banque Misr, the National Bank of Egypt (NBE), and Banque du Caire. Institutional investors like the Egyptian Banks Company for Technological Advancement (EBC), e-Finance Investment Group, and Mastercard also participated in the ceremony. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
bnok24
12-06-2025
- Business
- bnok24
Deputy Governor of the Central Bank of Egypt witnessed the Ceremony for Assigning the Management of the 'Nclude' FinTech Fund to DPI
رامي أبو النجا As part of the ongoing efforts to support companies operating in the field of FinTech and Innovation, accelerate digital transformation, and promote financial inclusion, aligning with international best practices, the Central Bank of Egypt (CBE) has approved the request from key limited partners of the 'Nclude' FinTech Fund to appoint Development Partners International (DPI) as the new fund manager Mr. Rami Aboulnaga, Deputy Governor of the CBE, witnessed the signing ceremony for the Fund's management transfer to DPI. This strategic move aims to attract new foreign investments in the FinTech sector, aligning with the fund's goal of becoming the largest FinTech-focused fund across the region, with a targeted capital of USD 150 million The 'Nclude' FinTech Fund has played a pivotal role in drawing foreign investments to this vital sector, where every USD 1 invested by Nclude in startups operating in the Egyptian market has leveraged an additional USD 5 from foreign investors into those startups. In this regard, Mr. Rami Aboulnaga, Deputy Governor of the CBE, stated, 'The participation of Egyptian banks in the Nclude' fund reflects the banking sector's strong commitment to investing in emerging FinTech trends and keeping pace with global trends in these promising sectors, especially by fostering a supportive environment for FinTech entrepreneurs to launch their solutions in Egypt, contributing to achieve targeted financial inclusion rates Notably, the launch of the 'Nclude' FinTech Fund was backed by Egypt's leading banks, including —Banque Misr, the National Bank of Egypt, and Banque du Caire — as well as institutional investors like Egyptian Banks Company for Technological Advancement (EBC), e-Finance Investment Group, and Mastercard. This initiative aligns with the CBE's efforts to improve access to funding for FinTech startups, which lies at the cornerstone of the CBE's FinTech and Innovation Strategy Additionally, the fund plays a pivotal role in nurturing young talents, besides boosting direct investments towards local and international FinTech and FinTech-enabled startups planning to operate in the Egyptian Market Google News تابعونا على تابعونا على تطبيق نبض جاري التحميل ...
Egypt Today
23-05-2025
- Business
- Egypt Today
Banque Misr supports the Nclude Innovation Fund LP ('Nclude') in the transition of its management to DPI Venture Capital
Banque Misr was the anchor investor in launching the Nclude Fund in 2022, with the goal of supporting and developing early-stage fintech companies and unleashing their full potential, in line with its broader strategy to transform its services digitally to enable financial inclusion, drive growth and deliver higher returns. DPI Venture Capital was launched by Development Partners International to provide investors access to pioneering, early stage, growth-orientated technology businesses across the Middle East and Africa. The Nclude Fund, with $105 million in assets under management and a target size of $150 million, is the largest fintech-focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $42.5 million across 12 transactions including companies such as Paymob, Khazna, Flapkap, and Connect Money. Launched with the support of the Central Bank of Egypt, Nclude is backed by LPs from Egypt's largest national banks including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region, to help such companies expand into Egypt, further expanding Egypt's position as a regional fintech hub. Hisham Okasha, Banque Misr CEO: 'The establishment of Nclude Fund was a key milestone in implementing our strategy to support the venture capital space. We believe that integrating these companies in our ecosystem and unlocking obvious synergies will take them to the next level of growth. We will continue to support Fintech businesses by providing financial, technical and digital solutions through our direct investment arm, private equity funds or accelerator programs in order to drive better experiences for our customers and greater value for the Egyptian economy.' Ahmed Sobhy, Banque Misr CIO: 'We are excited to partner with a prominent player like DPI to further cement our interest in growing digital and innovation led businesses and transforming them into leading institutions in their respective fields. We are confident that DPI will utilize its solid track record in Africa to existing investments in the Nclude Fund as well as new investments.'
Economic Key
23-05-2025
- Business
- Economic Key
Banque Misr Backs the Transition of Nclude Innovation Fund Management to DPI Venture Capital
Banque Misr was the anchor investor inlaunching the Nclude Fund in 2022, with the goal of supporting and developing early-stage fintech companies and unleashing their full potential, in line with its broader strategy to transform its services digitally to enable financial inclusion, drive growth and deliver higher returns. DPI Venture Capital was launched by Development Partners International to provide investors access to pioneering, early stage, growth-orientated technology businesses across the Middle East and Africa. The Nclude Fund, with $105 million in assets under management and a target size of $150 million, is the largest fintech-focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $42.5 million across 12 transactions including companies such as Paymob, Khazna, Flapkap, and Connect Money. Launched with the support of the Central Bank of Egypt, Nclude is backed by LPs from Egypt's largest national banks including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region, to help such companies expand into Egypt, further expanding Egypt's position as a regional fintech hub. Hisham Okasha, Banque Misr CEO: 'The establishment of Nclude Fund was a key milestone in implementing our strategy to support the venture capital space. We believe that integrating these companies in our ecosystem and unlocking obvious synergies will take them to the next level of growth. We will continue to support Fintech businesses by providing financial, technical and digital solutions through our direct investment arm, private equity funds or accelerator programs in order to drive better experiences for our customers and greater value for the Egyptian economy.' Ahmed Sobhy, Banque Misr CIO: 'We are excited to partner with a prominent player like DPI to further cement our interest in growing digital and innovation led businesses and transforming them into leading institutions in their respective fields. We are confident that DPI will utilize its solid track record in Africa to existing investments in the Nclude Fund as well as new investments.' تم نسخ الرابط
