{"id":548444,"date":"2022-08-09T03:45:37","date_gmt":"2022-08-09T03:45:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/09\/this-morning-the-central-bank-of-egypt-is-getting-into-contactless-payments\/"},"modified":"2022-08-09T03:45:37","modified_gmt":"2022-08-09T03:45:37","slug":"this-morning-the-central-bank-of-egypt-is-getting-into-contactless-payments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/09\/this-morning-the-central-bank-of-egypt-is-getting-into-contactless-payments\/","title":{"rendered":"THIS MORNING: The Central Bank of Egypt is getting into contactless payments"},"content":{"rendered":"<p><strong>Good morning, friends, and happy hump day. <\/strong>It\u2019s a truly slow newsday (we are, indeed, in the dog days of summer), but the big news here at home is CFC Group\u2019s USD 400 mn investment in a greenfield industrial complex in Qena. The facility is part of that USD 10 bn Egypt \/ UAE \/ Jordan \/ Bahrain investment pact and smartly looks to capture more of the manufacturing value chain here at home while driving regional economic integration. Details in this morning\u2019s news well, below.<\/p>\n<p><strong>HAPPENING TODAY- <\/strong><strong>Public consultations on the government\u2019s state ownership policy document continue <\/strong><strong>today, with higher education players<\/strong> voicing their thoughts on the privatization strategy. The government holds workshops every Sunday, Tuesday, and Thursday to see how its plans will affect specific industries. You can find more details on the schedule of the meetings <a href=\"http:\/\/eparticipation.idsc.gov.eg\/?fbclid=IwAR0roLUuQGFnSW2sa39MgFCj0jUqiG6_A-_Kya6SN4IhBJNhIqbHzMv5wdw\">here<\/a>.<\/p>\n<p><strong>The next round of talks is scheduled for this Thursday<\/strong>, 11 August with experts and think tanks.<\/p>\n<p><strong>WATCH THIS SPACE- <\/strong><\/p>\n<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>The Central Bank of Egypt (CBE) is creating a platform for making <\/strong><strong>contactless phone payments <\/strong>\u00e0 la Apple and Samsung Pay, CBE Assistant Sub-Governor for Banking Operations and Payment Systems Ehab Nasr said during a conference, according to <a href=\"https:\/\/bit.ly\/3JBLh9U\">Hapi Journal<\/a>. The institution is working with international partners on the platform, Nasr said.<\/p>\n<p><strong>Mobile wallets are catching on:<\/strong> The number of payments made via mobile wallets more than doubled y-o-y to 212 mn in 1H 2022, while the value of transactions rose to EGP 250 bn, up from just EGP 96 bn the same time last year, Nasr said. The country\u2019s new national digital payments app, InstaPay, has been used to make 1.33 mn transactions since <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/074310e0-c58d-4d9e-a186-8d50fda560ea\">its launch in March<\/a>.<\/p>\n<p><strong>As is online shopping:<\/strong> The value of online purchases in Egypt rose 34% y-o-y, with consumers spending some EGP 22.3 bn during the six-month period, Nasr said. The number of POS transactions rose by almost 50% to EGP 108.7 bn.<\/p>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>Casa de Donald just got raided by the feds:<\/strong> FBI agents raided Donald Trump\u2019s Mar-a-Lago estate in Florida yesterday and broke into his safe, the former president said yesterday. \u201cThese are dark times for our Nation, as my beautiful home \u2026 is currently under siege, raided and occupied\u201d by FBI agents, Trump said in <a href=\"https:\/\/twitter.com\/TrumpWarRoom\/status\/1556775758080753666\/photo\/1\">a statement<\/a> posted by an affiliated Twitter account. The reason for the raid is still to be confirmed, but US media outlets are reporting it was part of a federal investigation into Trump\u2019s handling of classified information during his time in office. (<a href=\"https:\/\/apnews.com\/article\/donald-trump-mar-a-lago-government-and-politics-9e8d683afe87389407950af7ccfdbdd6\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/us\/trump-says-fbi-agents-raided-his-florida-home-2022-08-08\/\">Reuters<\/a> | <a href=\"https:\/\/www.nytimes.com\/live\/2022\/08\/08\/us\/trump-fbi-raid\">NYT<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/national-security\/2022\/08\/08\/trump-mar-a-lago-search-fbi\/\">Washington Post<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-08\/trump-says-fbi-raided-his-florida-home-as-focus-escalates?srnd=premium&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/68ef537c-b388-4a9f-a621-17e63b044e72\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/trump-says-mar-a-lago-home-raided-by-fbi-agents-11660000571?mod=hp_lead_pos1\">WSJ<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/08\/08\/trump-says-fbi-raiding-his-mar-a-lago-home.html\">CNBC<\/a>)<\/p>\n<p><strong>Kenyans are heading to the polls today to decide who will succeed outgoing president <\/strong><strong>Uhuru Kenyatta.<\/strong> It\u2019s looking like a close-run thing between the two front-runners \u2014 opposition leader and Kenyatta-backed Raila Odinga and Deputy President William Ruto. Polls will close at 4pm CLT and vote-counting will begin shortly after.<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/MahmoudMohieldin_ethiopia1_1600px.jpg?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>COP27 WATCH- Recapping last week\u2019s Egypt- and UN-led <\/strong><strong><a href=\"https:\/\/climatechampions.unfccc.int\/uns-global-climate-investor-roadshow-kicks-off-in-africa\/\">regional climate roundtable<\/a><\/strong><strong> in <\/strong><strong>Ethiopia<\/strong>, which brought together African climate negotiators, lenders and global officials to discuss how to channel finance into climate projects. During the three days, participants analyzed and assessed more than <strong>140 potential projects in Africa that are in need of finance<\/strong>, and discussed them in six themed sessions that addressed issues such as food security, water use and digital transformation, UN Climate Change High-Level Champion for COP27 and special envoy of the UN Secretary General Mahmoud Mohieldin said in an emailed statement. The roundtable marked the first in a series of efforts to compile and present African climate projects with potential for financing ahead of COP27, Mohieldin said.<\/p>\n<p><strong>There are four more regional roundtables coming up<\/strong>, with the next taking place in Bangkok, Thailand, on 25 August.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>IN MEMORIAM- <\/strong><\/p>\n<p><strong>Grease star and pop icon Olivia Newton-John has died at age 73<\/strong>, her husband, John Easterling, announced on <a href=\"https:\/\/www.facebook.com\/olivianewtonjohn\/posts\/621793035977328\">social media<\/a> yesterday. The cause of death was not made public, but the British-Australian singer had been suffering from breast cancer for years and has a <a href=\"https:\/\/l.facebook.com\/l.php?u=http%3A%2F%2FONJFoundationFund.org%2F%3Ffbclid%3DIwAR1Nb5O4yjXWWu1o5922vbU3DYgFrhQRsI6psxtOzQ-v3ZjICP6cA4mSP8o&h=AT0YQrpONlwBUSGGjqt4HYyYDPnuw-EjurP-PlnnfGyA_pa7Q1mNtb2gUhnqpmUypybZwWUjrMEfTZmi-SvgDWzyOIPA3A916EEkEg0nOlfW-o9ssJnU9hRPra-tUrfoRQ&__tn__=-UK-R&c[0]=AT3-J3viCJWmXLb-InQvs6zL1KYGWsaD6dWzyp2aTOKM0fz_E1Ex9EMOWBkaovL47afjh_WHW-e3NkctgsJb7Geba_TO7Lrsh7x1_JVbBzm3nm98mK14v_0Mj25mGnrFchlesv_j_CycUI0JFoHoIHFdeS7O1gWUGeXueSVHS_sTow\">fund<\/a> dedicated to breast cancer research in her name. The four-time Grammy winner led a long, successful career in showbiz \u2014 <a href=\"https:\/\/www.youtube.com\/watch?v=vWz9VN40nCA\">Physical<\/a> was one of the biggest singles of the 1980s, and her breakout performance in <a href=\"https:\/\/www.youtube.com\/watch?v=WBQOhxujAq8\">Grease alongside John Travolta<\/a> is making the rounds this morning.<\/p>\n<p><strong>Obits rolled in through the night for Newton-John:<\/strong> <a href=\"https:\/\/www.bbc.com\/news\/entertainment-arts-62472100\">BBC<\/a> | <a href=\"https:\/\/www.cnn.com\/2022\/08\/08\/entertainment\/olivia-newton-john-obit\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.theguardian.com\/film\/2022\/aug\/08\/olivia-newton-john-star-of-grease-dies-aged-73\">The Guardian<\/a> | <a href=\"https:\/\/www.nytimes.com\/2022\/08\/08\/arts\/olivia-newton-john-dead.html\">NYT<\/a> | <a href=\"https:\/\/www.independent.co.uk\/arts-entertainment\/films\/news\/olivia-newton-john-death-john-travolta-b2141015.html\">The Independent<\/a> | <a href=\"https:\/\/apnews.com\/article\/olivia-newton-john-dies-8a8f8fd004160ebadea59fccf88eb6b1\">AP<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/olivia-newton-john-grease-star-and-grammy-winner-dies-at-73-11659989998?mod=hp_lead_pos10\">WSJ<\/a>.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Inflation data <\/strong>for July should land on Wednesday, 10 August.<\/p>\n<p><strong>Ghazl El Mahalla IPO:<\/strong> The retail portion of Ghazl El Mahalla\u2019s mini-IPO will wrap next Sunday, 14 August.<\/p>\n<p><strong>MNHD shareholders have the final word on SODIC takeover bid:<\/strong> Madinet Nasr Housing and Development will hold a general assembly meeting on Tuesday, 16 August, to decide whether to allow SODIC to conduct due diligence ahead of a potential takeover.<\/p>\n<p><strong>Interest rates:<\/strong> The Central Bank of Egypt will meet to discuss interest rates next Thursday, 18 August.<\/p>\n<p><strong>National Dialogue:<\/strong> The board of trustees overseeing the National Dialogue will hold its next meeting on 27 August. On the agenda: Choosing the rapporteurs for all of the committees and subcommittees of the social, political and economic tracks, and preparing the agenda and topics of discussion for the dialogue.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> Enterprise sits down with one of the climate experts who helped craft Egypt\u2019s new emissions targets. Amr Abdel Aziz is an unpaid advisor to Environment Minister Yasmine Fouad and chairman of Cairo-based environmental consulting firm Integral Consult, which helped develop Egypt\u2019s new national climate strategy and updated nationally determined contributions (NDCs). We talk with Abdel Aziz on the thinking behind our new emissions targets, what would make the COP27 climate summit a success in his eyes, and why more climate finance from developed nations is key to halting global warming.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, friends, and happy hump day. It\u2019s a truly slow newsday (we are, indeed, in the dog days of summer), but the big news here at home is CFC Group\u2019s USD 400 mn investment in a greenfield industrial complex in Qena. The facility is part of that USD 10 bn Egypt \/ UAE \/ [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[271,7286,228,984,199,72,290,183,1704,2226,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548444","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-central-bank-of-egypt","tag-climate","tag-cop27","tag-donald-trump","tag-e-commerce","tag-enterpriseam","tag-financial-inclusion","tag-fintech","tag-obituaries","tag-olivia-newton-john","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"57a1dfd4-64de-4080-a9c9-d86f20dbb8c0","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[548442],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS MORNING: The Central Bank of Egypt is getting into contactless payments - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/09\/this-morning-the-central-bank-of-egypt-is-getting-into-contactless-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: The Central Bank of Egypt is getting into contactless payments\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends, and happy hump day. It\u2019s a truly slow newsday (we are, indeed, in the dog days of summer), but the big news here at home is CFC Group\u2019s USD 400 mn investment in a greenfield industrial complex in Qena. 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It\u2019s a truly slow newsday (we are, indeed, in the dog days of summer), but the big news here at home is CFC Group\u2019s USD 400 mn investment in a greenfield industrial complex in Qena. 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We have yet to hear from the Central Bank of Egypt and the EGX on what to expect this weekend, but it looks likely that we\u2019re heading into a three-day break in observance of Sinai Liberation Day on Sunday, 25\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":560713,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/what-were-tracking-on-10-march-2021\/","url_meta":{"origin":548444,"position":1},"title":"What we\u2019re tracking on 10 March 2021","author":"enterpriseam admin","date":"10 March 2021","format":false,"excerpt":"Good morning, nice people, and welcome to a very busy newsday. M&A is again the big story here at home, this time in the country\u2019s red-hot non-bank consumer finance sector as the National Bank of Egypt begins what looks to be an aggressive push into the sector that will include\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544803,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/22\/this-morning-more-measures-to-support-the-egx-coming-today-ukraine-war-is-putting-pressure-on-emerging-debt\/","url_meta":{"origin":548444,"position":2},"title":"THIS MORNING: More measures to support the EGX coming today + Ukraine war is putting pressure on emerging debt","author":"enterpriseam admin","date":"22 March 2022","format":false,"excerpt":"Good morning, wonderful people, and welcome to a new reality. We\u2019ve been saying for some weeks now that the Madbouly government has been deft in its management of the fallout from Russia\u2019s war in Ukraine, but policymakers took it to 11 yesterday: The Central Bank of Egypt announced a surprise\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":560859,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/16\/what-were-tracking-on-16-march-2021\/","url_meta":{"origin":548444,"position":3},"title":"What we\u2019re tracking on 16 March 2021","author":"enterpriseam admin","date":"16 March 2021","format":false,"excerpt":"Good morning, nice people, and welcome to a policy- and legislation-heavy issue after the run of M&A that has dominated headlines for the past week and a half.We\u2019re also feeling very green this morning. Not because it\u2019s nearly St. Patrick\u2019s Day, but because we\u2019re launching our new green economy vertical.\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568284,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/what-were-tracking-on-24-december-2020\/","url_meta":{"origin":548444,"position":4},"title":"What we\u2019re tracking on 24 December 2020","author":"enterpriseam admin","date":"24 December 2020","format":false,"excerpt":"Good morning, everyone, and a very Merry Christmas to all those who are observing tomorrow. We made it through another week together \u2014 and have a pleasantly quiet issue for you this Christmas Eve morning.Last orders on the NYSE and Nasdaq will be at 1pm Eastern today while the closing\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561941,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/27\/this-morning-madbouly-to-announce-2021-2022-reform-agenda-today-food-prices-surge-to-eight-year-highs\/","url_meta":{"origin":548444,"position":5},"title":"THIS MORNING: Madbouly to announce 2021-2022 reform agenda today; food prices surge to eight-year highs","author":"enterpriseam admin","date":"27 April 2021","format":false,"excerpt":"Good morning, dear readers \u2014 we\u2019re halfway through Ramadan already. The news is mercifully light this morning as we look forward to kicking back on a long weekend.WHAT\u2019S HAPPENING TODAY-Prime Minister Mostafa Madbouly will announce the government\u2019s reform agenda for the coming fiscal year later today, Planning Minister Hala El\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548444"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548444\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548442"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548444"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548444"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}