{"id":581405,"date":"2023-02-09T00:00:00","date_gmt":"2023-02-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/nigerian-fintech-flutterwave-enters-egypt\/"},"modified":"2023-02-09T00:00:00","modified_gmt":"2023-02-09T00:00:00","slug":"nigerian-fintech-flutterwave-enters-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/nigerian-fintech-flutterwave-enters-egypt\/","title":{"rendered":"Nigerian fintech Flutterwave enters Egypt"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">STARTUPS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Flutterwave comes to Egypt<\/span><span style=\"\">: Nigerian fintech startup <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/flutterwave.com\/gb\/blog\" style=\"\">Flutterwave<\/a><\/span><span style=\"\"> has obtained <\/span><span>licenses to set up shop in Egypt, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/flutterwave.com\/gb\/blog\/flutterwave-expands-into-north-africa-with-new-egypt-payments-licenses\" style=\"\">press release<\/a><\/span><span> yesterday. The approvals will allow Flutterwave \u201cto act as an official payment service provided in the country\u201d by collecting and setting payments locally and abroad. \u201cWe are proud to have been granted the Payment Services Provider and Payment Facilitator licenses in Egypt, which forms part of our international expansion strategy,\u201d Flutterwave CEO Olugbenga Agboola said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NBFS- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Contact partners with BMW\u2019s local agent:<\/span><span style=\"\"> Contact Financial will offer car financing <\/span><span style=\"\">and <\/span><span>ins. to customers of Global Auto Group, BMW\u2019s new agent and importer in Egypt, according to statements out yesterday <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Global-Auto-Contact-Financial.pdf\" style=\"\">here<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Contact-Financial-Global-Auto-2.8.23.pdf\" style=\"\">here<\/a><\/span><span> \u2014 pdfs<\/span><span>)<\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REFRESHER-<\/span><span> Global Auto in January <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/19\/local-bmw-assembly-is-back-courtesy-of-global-auto-group-93973\/\" style=\"\">started assembling BMWs<\/a><\/span><span> in Egypt for the first time in five years,<\/span><span style=\"font-weight:700\"> <\/span><span>soon after BMW Group <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/30\/the-new-face-of-bmw-in-egypt-89691\/\" style=\"\">handed the firm<\/a><\/span><span> the exclusive rights to import and assemble BMW and Mini cars in the local market. Global Auto<\/span><span> is a joint venture between Kuwait\u2019s Ali Alghanim & Sons Automotive, Saudi Arabia\u2019<\/span><span style=\"font-weight:400;\">s Mohamed Yousuf Naghi Motors and local firms Organi Group and Al Safi Group.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INFRASTRUCTURE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">e-Finance to spearhead digitization of the fertilizer trade:<\/span><span style=\"\"> EGX-listed fintech player <\/span><span>e-Finance has been chosen by the Agriculture Ministry to operate an electronic system to manage the trade of fertilizers, the company said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/e-finance-Agriculture.pdf\" style=\"\">a statement (pdf)<\/a><\/span><span> yesterday<\/span><span style=\"font-weight:400;\">. The system will automate fertilizer distribution procedures for more than 5.7k agricultural coops, and fertilizer factories and outlets run by the Egyptian Company for Agricultural and Rural Development.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">LAW- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Clyde & Co lands in Egypt: <\/span><span style=\"\">London-based corporate law firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.clydeco.com\/en\" style=\"\">Clyde & Co<\/a><\/span><span style=\"\"> has set up <\/span><span>shop in Cairo through its new associate office <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.clydeco.com\/en\/locations\/africa\/cairo\" style=\"\">Barakat, Maher & Partners Advocates & Legal Consultants<\/a><\/span><span>, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.clydeco.com\/en\/about\/news\/2023\/02\/clyde-co-opens-an-associated-office-in-egypt\" style=\"\">statement<\/a><\/span><span> yesterday. The new firm will be headed by Clyde & Co Managing Partner Mohamed Barakat (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/mohamed-barakat-57941a180\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"font-weight:400;\">), who has nearly two decades of experience in the legal profession in the US, Egypt, and Saudi Arabia. It will handle capital markets, corporate and M&A, commercial, arbitration, employment, finance, regulatory, and restructuring cases. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">POLITICS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Authorities have released all detainees arrested during clashes in the Cairo island <\/span><span style=\"font-weight:700\">of El Warraq in 2017<\/span><span>, Rep. Tarek El Kholy, a member of the Presidential Pardons Committee <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/khouly85\/posts\/pfbid0zJ9FJMHx26o67mWzjecuNBVf5MgrDgiTL4nE2YDqyxmXjYASu5Y3QFFBBkabWijxl\" style=\"\">said<\/a><\/span><span> yesterday<\/span><span>. <\/span><span>A number of the island\u2019s<\/span><span style=\"font-weight:400;\"> inhabitants have been detained in recent years following clashes with security forces for opposing the government\u2019s plans to demolish their homes and redevelop the island.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To act as an official payment service provided in the country<\/p>\n","protected":false},"author":1,"featured_media":581406,"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":[7209],"tags":[97,111,144,675,933,155,339,72,99,183,963,595,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-agriculture","tag-also-on-our-radar","tag-automotive","tag-bmw","tag-contact-financial","tag-digitization","tag-e-finance","tag-enterpriseam","tag-fertilizers","tag-fintech","tag-law","tag-non-banking-financial-services","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"59405581-3008-4667-8053-bfeb0fd95439","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/flutterwave-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581381],"teaser":"To act as an official payment service provided in the country"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Now we have a c-commerce player in town","author":"enterpriseam admin","date":"17 February 2022","format":false,"excerpt":"UAE-based c-commerce platform Zbooni has launched operations in Egypt, according to a company press release. The company offers tools to help SMEs convert customer interactions through social and messaging apps into transactions, including by allowing businesses to share online shopping baskets and payment links and track sales data. C-commerce? Connected\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/251.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546744,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/26\/goodbye-lagos\/","url_meta":{"origin":581405,"position":1},"title":"Goodbye, Lagos","author":"enterpriseam admin","date":"26 May 2022","format":false,"excerpt":"Goodbye, Lagos \u2014 it\u2019s been phenomenal. In a few hours, we\u2019ll be heading back on a six-hour flight to Omm El Donia, with the adrenaline of the past four days slowly dialing down, giving us time to process what we have experienced \u2014 and add all those new connections to\u2026","rel":"","context":"In &quot;ENTERPRISE ON THE ROAD&quot;","block_context":{"text":"ENTERPRISE ON THE ROAD","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-on-the-road\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/355.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547240,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/14\/credpal-secures-usd-six-figure-funding-from-cairo-angels-eyes-stepping-foot-into-egypt\/","url_meta":{"origin":581405,"position":2},"title":"CredPal secures USD six-figure funding from Cairo Angels, eyes stepping foot into Egypt","author":"enterpriseam admin","date":"14 June 2022","format":false,"excerpt":"The Cairo Angels Syndicate Fund (CASF) has invested USD six figures in Nigerian BNPL fintech startup CredPal, the VC fund said in a press release (pdf). The capital will be used to finance the company\u2019s expansion into Egypt, Kenya, Ghana, and Cameroon.About CredPal: Launched in 2018 by Fehintolu Olaogun (LinkedIn)\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/CredPal-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586895,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/fintech-startup-axis-launches-following-usd-8-3-mn-funding-round\/","url_meta":{"origin":581405,"position":3},"title":"Fintech startup Axis launches following USD 8.3 mn funding round","author":"enterpriseam admin","date":"18 May 2023","format":false,"excerpt":"The company is backed by Tiger Global, Sawari Ventures and Raba","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1043.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549520,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/cairo-angels-micro-vc-fund-nears-final-close-a-new-fund-in-the-works\/","url_meta":{"origin":581405,"position":4},"title":"Cairo Angels\u2019 micro-VC fund nears final close + a new fund in the works","author":"enterpriseam admin","date":"20 September 2022","format":false,"excerpt":"Angel investment group Cairo Angels will reach a third and final close of USD 5 mn on its micro-VC fund this quarter, CEO Aly El Shalakany (LinkedIn) told us, confirming news first published by Amwal El Ghad. The fund reached its second close earlier this year, after closing its first\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/285.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546699,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/day-3-in-lagos-nigeria\/","url_meta":{"origin":581405,"position":5},"title":"Day 3 in Lagos, Nigeria","author":"enterpriseam admin","date":"25 May 2022","format":false,"excerpt":"DAY THREE- Lagos doesn\u2019t cease to amaze us \u2014 and frankly, it feels like we\u2019ve been here for three weeks, not just two and a half days. The energy of the local entrepreneurship scene has kept our adrenaline pumping, along with the little bits and pieces of chaos that remind\u2026","rel":"","context":"In &quot;ENTERPRISE ON THE ROAD&quot;","block_context":{"text":"ENTERPRISE ON THE ROAD","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-on-the-road\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/335.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581405","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=581405"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581405\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/581381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/581406"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=581405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=581405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=581405"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=581405"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=581405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}