Capiter, the Cairo-based B2B e-commerce startup signed a cooperation agreement with QNB Alahli to bring easy financing to merchants using its platform. The agreement is in keeping with the CBE’s strategy for supporting innovation and financial technology, said Rasha Negm, Deputy Governor of the Central Bank of Egypt (CBE) for Financial Technology.
The CBE seeks to transform Egypt into a regional centre for financial technology in Africa and the Arab world as well as to eventually become a cashless society, according to Negm.
The CEO of QNB Alahli, Mohamed Bedir said that Capiter is one of the most promising companies in Egypt contributing to regulating the internal trade movement, highlighting that the Egyptian banking sector is witnessing a leap in banking technology solutions, reflecting positively on the growth of companies’ business volumes and the increase in their profits within the framework of the state’s directives towards digital transformation and financial inclusion.
Capiter, which has been operating in Egypt for two years wants to connect merchants and manufacturers and digitalise merchant payments, said Mahmoud Noah, the Co-Founder.
