In a bid to continue supporting financial inclusion in Africa, Dubai-based Investment banking advisory firm Nimai has unveiled a USD 150 Mn fund in a partnership with Kenya’s Victoria Commercial Bank .
He stressed that Egypt is the first destination for foreign investments in Africa, pointing out that the presence in Egypt is the most important investment of the group in Africa due to its distinguished geographic position
The partnership will focus on the development of joint innovation and educational initiatives alongside a payments focused event to discuss the latest trends in payments, e-commerce, security and risk.
Commercial Bank is leading the way in transforming retail banking by introducing digitally innovative banking products and services, and we will continue to harness new technologies for the benefit of our customers.”
The EALB has also activated the products of progressive yield, mortgage finance, small and microenterprise loans, and expanded financing for large enterprises and companies.
Non-performing financing, meanwhile, showed only a modest gain over the same period, rising from 0.6% to 1.2%.