Careem signs a partnership agreement with Khazna to offer new fintech services to Captains
Haitham Essam: The agreement aligns with the government’s digital transformation strategy
Ahmed Hassan: The cooperation between Khazna and Careem supports our objective of improving the financial well-being of millions of Egyptians
Ali Yasser
Careem Egypt, the leading ride-hailing technology platform in the Middle East, signed an agreement with “Khazna,” a financial Super App that offers easy-to-use, technology-driven financial services to Egypt’s underserved population. The deal will give Captains working on the Careem App in Egypt access to all services available on the “Khazna” App through their smartphones.
The partnership agreement allows Careem captains to issue “Khazna Meeza” prepaid cards in cooperation with Abu Dhabi Islamic Bank – Egypt and to link these cards to Khazna’s App, which is installed on the captain’s mobile phone. Captains can activate or deactivate those cards immediately.
Captains will also be able to inquire about the card balance from the application, which also can notify the Captains of the transactions made on the card, and in the case, the Captains lose their “Khazna Meeza” cards, Khazna will issue a replacement card for them.
Haitham Essam, Careem General Manager in Egypt, commented: “We are excited to cooperate with Khazna as part of our initiatives to support our Captains. This partnership provides them with the best tech solutions available in the market and eases some financial pressures through prepaid cards, which are simpler, faster, and more secure. Khazna cards will also enable our Captains to receive their dues in real-time, in addition to carrying out other financial services digitally easily through the “Khazna” application”.
He added that such partnerships align with the government’s strategy to digitize Egypt’s economy, achieving unprecedented financial inclusion.
Khazna’s super app caters primarily to Egyptians who lack access to formal financial services and are active on their smartphones. The Khazna App currently offers its users its unique Salary Advance feature, Bill Payment, and the Khazna Prepaid Card linked to the App. The company’s vision is to digitize cash transactions across Egypt, in response to the Central Bank of Egypt’s recent push for financial inclusion and a “less-cash” framework.
Ahmed Mohsen Hassaan, Chief Commercial Officer at Khazna, said: “We are pleased with our cooperation with Careem – as it allows us to avail our services to the Captains working on their platform in Egypt. And as an important sector of society, this cooperation continues to support our objective of improving the financial well-being of millions of Egyptians and empowering them with world-class digital financial solutions. “
Earlier this year, Careem Egypt announced several initiatives to support its Captains. The latest was the signing of an agreement with the local startup Amenli.com, an insurance brokerage that offers health and auto insurance for Careem Egypt’s Captains at competitive rates. In addition, Careem reduced the commission fee to become 15% on Go Awfar rides in Cairo and Alexandria to help the captains achieve more earnings while continuing to provide the best level of services to a wide range of customers. Careem also increased the cash limit for Captains with the ability to pay through Fawry, Meeza, and e-wallets and bank accounts, which gives them more payment flexibility.
