AMAN Holding Announces Strategic Partnership with USAID’s Business Egypt Program
Advancing Digital Integration in the Business Sector
AMAN Holding, the most comprehensive financial technology company, announces a strategic alliance with the USAID’s Business Egypt program, funded by the United States Agency for International Development (USAID) and implemented by DAI global. This collaboration is formalized through a cooperation note lasting two and a half years, aiming to stimulate digital growth and innovation for micro, small and medium (MSMEs) in Egypt, with a particular focus on supporting women and youth in the business sector, aligning with Aman Holding’s strategy.
Hazem Moghazi, Chief Executive Officer for Business and Commercial Affairs at AMAN Holding, expressed his pleasure in signing the memorandum, viewing it as a milestone in the journey of AMAN Holding’s commitment and the USAID-funded Business Egypt program to enhance the economic landscape for MSMEs in Egypt by adopting a more inclusive business system that incorporates digital advancement.
Mohamed Wahby, Chief Executive Officer of the Products and Technology at AMAN Holding, stated that the cooperation with Business Egypt aims to develop the digital transaction environment through various pillars of this collaboration, such as offering exclusive benefits through a merchant incentive program that provides discounts and cashback rewards, known as the cashback system. To enhance financial inclusion and digital integration in transactions, AMAN Holding and Business Egypt will provide workshops and training sessions focusing on sustainability, financial literacy, and the application of best electronic payment practices. The parties intend to launch a campaign for digital financial literacy to acquaint startups and individuals with the various benefits of digital financial services, highlighting the ease and security of using electronic payments in their operations.
Yomna Mustafa, Chief of Party of the Business Egypt program, verified that the signing of the cooperation note with “AMAN Holding” aligns with the program’s approach in empowering MSMEs and with mechanisms to achieve its goals. On one hand, it enhances cooperation between anchor firms and MSMEs in the areas of digitization and financial inclusion, and on the other hand, it improves the efficiency and performance of startups, particularly those owned and managed by youth and women, thus, aiding their growth and development.
In line with AMAN Holding and Business Egypt’s commitment to environmental sustainability and promoting socially responsible business models, this partnership would provide financial solutions like green financing to encourage startups to adopt more sustainable practices, such as investing in renewable energy. Additionally, AMAN Holding and Business Egypt will support the formalization process for startup owners and traders, offering the necessary support to familiarize them with laws and regulations for
formalization and the process of obtaining official documents to create a stable business environment conducive to the growth and development of startups.
It is noteworthy that the Business Egypt program is a five-year project of the United States Agency for International Development, aiming to expand the quality and number of job opportunities, particularly for women and youth, as well as to increase sales and investment in the local market. Business Egypt supports the establishment of productive, innovative, and promising small, medium, and micro enterprises, promoting their growth and enhancing their competitiveness through creating a vibrant and high-performing business environment that drives economic development in Egypt.
