Paymob, Tamweely & AWEF Sign Agreement to Empower Female Entrepreneurs

The tripartite cooperation aims to increase financial and digital opportunities for female entrepreneurs in Egypt
Paymob, Tamweely & AWEF Sign Agreement to Empower Female Entrepreneurs
The agreement aims to empower female entrepreneurs

Paymob, an electronic payment enabler that offers integrated infrastructure solutions, has signed an agreement with Tamweely Microfinance and the Arab Women’s Enterprise Fund (AWEF). The cooperation aims to increase financial and digital opportunities for female entrepreneurs in Egypt, within the #AcceptTheChange campaign.

The signing of the agreement was attended by CEO and Managing Director of Paymob, Islam Shawky, Financial Inclusion Director of AWEF, Chloe Gueguen, CEO of Tamweely, Amr Aboelazm, and CFO of Tamweely, Ahmed Khorched.

Islam Shawky, expressed his happiness in cooperating with the broader digital finance ecosystem to jointly advance women’s economic opportunities in Egypt, particularly for female entrepreneurs.

Amr Aboelazm, highlighted his company’s ambition to further enhance the capabilities of female entrepreneurs, who currently represent 42% of Tamweely’s customer base. He rightly pointed out that women represent a key segment for Tamweely, due to their higher propensity to repay their loans.

The #AcceptTheChange campaign initially aims to empower 250 female vendors (and their female clients) by providing e-payment solutions that will allow the selected entrepreneurs to further benefit from the digital economy in Egypt.

Furthermore, the agreement aims to empower a larger audience of female consumers, by providing them with greater payment choices, additional convenience, and the ability to generate valuable transaction records for future credit purposes.

The #AcceptTheChange social media campaign demonstrates how FinTech companies are adapting their market strategies to specifically meet the needs of female entrepreneurs, who are increasingly interacting via digital platforms such as Facebook and Instagram.

As part of this partnership, the AWEF, a development programme financed by the UK’s Department for International Development (DFID), will provide technical and financial assistance to Paymob, while Tamweely Microfinance will facilitate linkages with their client base of female-owned micro-businesses to enhance their business strength and growth potential.

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