Vodafone Egypt to Launch Nano Lending With Bank of Alexandria

Vodafone Egypt is working with Bank of Alexandria to launch a pilot nano lending service to consumers, Ayman Essam, the telecom’s external relations director, said in a message to Bloomberg.

  • Essam said the move is “a normal evolution” given that Vodafone Egypt has 65% of mobile wallet share and more than 80% of the transactions on that platform
    • Move is “part of our efforts toward financial inclusion”
  • Co. was selected by Central Bank of Egypt and Egypt’s National Telecom Regulatory Authority for the program
  • Vodafone and Bank of Alexandria still discussing details, including amounts and launch date
  • Read more: Vodafone Ends Talks to Sell Egyptian Stake to Saudi Telecom (1)

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