Egypt and Nigeria agreement on the union of the two governments for cross-border transfers in the field of economy. Previously, London and Egypt have also signed memorandums of understanding. It seems that Egypt and Nigeria will create economic situations in the African continent by signing this agreement.
The parties of this agreement signed this memorandum in Cairo. Nigeria and Egypt believe that their cooperation in the field of cross-border technologies will have economic and financial gains in the region.
The central banks of Egypt and Nigeria signed a cross-border memorandum of understanding between them, and London, which had previously reached an agreement with Egypt, will start training courses and workshops for Egyptian fintech.
In her remarks following the signing of what has been described as a fintech bridge, Aishah Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), said the collaboration would foster financial inclusion.
“We look forward to cultivating an innovative space for fintech startups and entrepreneurs in Egypt and Nigeria to accelerate financial inclusion, deepen our payment systems and drive economic growth across the African Continent,” Ahmad, who is in charge of Financial System Stability, said.
According to a Xinhua report, the London Institute of Banking & Finance, which also signed an MOU with the Egyptian central bank, will offer training programs, workshops, and courses to leaders in the Egyptian fintech sector. Meanwhile, at the same event, the governor of the Egyptian central bank Hassan Abdallah announced the release of the Fintech Outlook report which highlights the positive indicators of Egypt’s fintech sector.
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