Network International (Network) has announced it is investing one billion EGP to help boost growth in digital payments in Egypt.
A significant share of investment will be centred on procuring, deploying, and maintaining approximately 100,000 Point-of-Sale (POS) machines while the remaining portion will be used to implement and operate Network One, Network’s payments technology platform.
Nandan Mer, Group CEO of Network International, said, “This investment underlines our continued commitment to bringing innovative payments solutions to Egyptian businesses. Our presence in the Egyptian economy spans over two decades, during which we’ve served numerous banks and financial institutions. The investment goes beyond monetary value – our focus includes continuing to hire and develop local talent and leadership.”
Dr. Reda Helal, Group Managing Director – Processing, Africa added: “Aligning with Egypt’s financial inclusion journey, we are making digital payment acceptance economically feasible for many small merchants through low-cost payment acceptance solutions. The Egyptian government has been implementing a robust strategy to accelerate digital transformation objectives. Network is at the forefront of this transformation, aligning with the nation’s 2030 agenda.”