Kenya’s funds agency Cellulant, which operates throughout 19 African markets, has taken its enterprise to the Egyptian market.
“With its collections and disbursement fee options, Cellulant will allow world and regional retailers working in Egypt to simply handle their B2B and B2C funds seamlessly in-country and internationally,” the corporate stated in a press assertion.
Egypt’s funds sector has been notable lately, following new laws supporting instantaneous funds and the rise of fintech firms. These modifications have challenged traditional banking and adjusted how folks make funds.
In response to the 2022 Mastercard New Payment Index, 88% of Egyptians have used rising fee strategies, and this development is anticipated to develop. This shift in client behaviour pushes companies to supply higher fee choices to satisfy buyer calls for. Per Akshay Grover, Cellulant’s group CEO, “Egypt is a strategic marketplace for enterprise development in MENA. We’re excited to efficiently safe these licences and solidify our operations in Egypt.”