Reefy, Damen partner to expand digital financial services in Egypt
Updated 10/22/2024 1:10:00 PM
Arab Finance: Microfinance Services Company Reefy has signed a strategic cooperation agreement with Damen epayment to integrate microfinance services with digital payment solutions, offering comprehensive options to customers and enhancing their experience through improved accessibility, as per an emailed press release.
The signing ceremony took place at Reefy’s headquarters, attended by top executives including Ahmed Labib, Managing Director and CEO of Reefy, and Sameh El-Mallah, CEO of Damen.
Labib emphasized that this cooperation aligns with Reefy’s mission to promote financial inclusion and support Egypt’s micro-enterprises.
Currently, Reefy serves over 160,000 clients through 180 branches across 21 governorates, with plans to target underserved regions.
El-Mallah noted that the partnership would further financial inclusion efforts by reaching new customer segments, particularly in remote areas.
Damen, established in 2018, provides a wide range of electronic payment solutions, including payment of utility bills, donations, and mobile recharges.
With more than 23 branches and a network of over 100,000 merchants, Damen supports Egypt’s financial inclusion initiative by offering over 600 payment and collection services nationwide.
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