كتبت: نجوى طه
KashNow, a subsidiary of Noqood Holding, entered into a strategic partnership agreement with Sandah Microfinance, a microfinance company regulated and supervised by the Financial Regulatory Authority in Egypt. The collaboration aims to deliver innovative financial solutions to micro-entrepreneurs, fostering financial inclusion throughthe digitization of financial transactions.
Under this agreement, micro-entrepreneurs can easily apply for financing from Sandah through the user-friendly KashNow app in simple and easy steps.
This agreement comes as part of the state’s efforts to facilitate regulatory procedures to enhance the role of startups. The monthly report of the Financial Regulatory Authority revealed an increase in the number of beneficiaries from microfinance companies to 4,280 beneficiaries by the end of August 2023, with a value of 4.03 billion Egyptian pounds. This is compared to 1,270 beneficiaries by the end of August 2022, with a value of 1.19 billion Egyptian pounds.
In this context, Eng. Amr Salem, the CEO of KashNow for FinTech Solutions, stated: “We are pleased to sign this strategic partnership, which reflects our commitment to supporting the vision of the Egyptian state in developing micro-sized projects, enhancing financial inclusion, and stimulating the growth of the national economy.”