In line with Egypt’s commitment to fostering stronger African cooperation across various sectors, the Central Bank of Egypt (CBE) hosted a delegation from the Financial Inclusion team at the Banque Centrale de Mauritanie (BCM). The visit aimed to facilitate peer learning and knowledge exchange, drawing on Egypt’s successful experience in promoting financial literacy and women’s economic empowerment, in collaboration with the Alliance for Financial Inclusion (AFI).
The delegation’s visit included an in-depth exchange programme at the CBE’s headquarters, focusing on “The Implementation of Effective Financial Literacy Strategies.” The programme highlighted the key factors contributing to the success of Egypt’s financial literacy initiatives, which have significantly boosted financial inclusion rates, now reaching 71.5% according to June 2024 indicators. The programme also underscored the crucial role of policymakers and strategic partnerships with government entities and other stakeholders in implementing large-scale financial literacy programmes. These collaborations ensure the widespread awareness and inclusion of all societal segments, with a special emphasis on women.
During their visit, the Mauritanian delegation explored Egypt’s financial inclusion strategy and its effective implementation process. Discussions covered the integration of financial literacy into inclusion projects, particularly those targeting women, such as the Digital Village Savings and Loan Association project (Tahweesha), which focuses on empowering women economically.
The delegation received a detailed overview of how Egypt develops tailored financial education content for diverse societal segments. They also learned about the CBE’s FinTech and Innovation Strategy, which promotes digital financial literacy, and the various initiatives that foster talent development in the FinTech field. Additionally, the delegation was briefed on the CBE’s consumer protection efforts, particularly its work in raising awareness about consumer rights.
A key part of the visit was a tour of the “Nilepreneurs” initiative headquarters, where the delegation saw firsthand how entrepreneurs and small enterprises receive support from ideation to launch. They also observed how the banking sector offers non-financial services through Business Development Services (BDS) Hubs. The delegation’s visit concluded with a trip to the Egyptian Banking Institute (EBI), where they learned about the institution’s efforts to promote financial literacy, including the launch of the Finlit Hub. This digital platform targets children, youth, adults, entrepreneurs, and financial service providers, offering educational content on financial concepts and personal money management tailored to the needs of each group.
