The Government of Egypt,
represented by The Ministry of Communications and Information Technology, and MasterCard today signed a Memorandum of Understanding (MoU)
to establish a strategic collaboration that will help drive financial inclusion
and maximize government efficiency. The MoU was signed by H.E. Atef Helmy,
Minister of Communications and Information Technology, and Ajay Banga, Chief
Executive Officer at MasterCard, in the presence of H.E. Ibrahim Mahlab, Prime
Minister of Egypt, and Richard Haythornthwaite, Chairman of MasterCard’s Board
of Directors.
The partnership will see
MasterCard bring latest payment technology innovations to market. In addition,
the company will leverage its global experience working with governments across
the world, to help the Egyptian government increase engagement with citizens.
H.E. Atef Helmy, Minister of
Communications and Information Technology said: “Under the leadership of H.E.
Abdel Fattah El-Sisi, Egypt has been undergoing a period of positive change.
The President and Government of Egypt believe that Information and
Communications Technology (ICT) plays a vital role in supporting this change
and in helping us better serve our citizens. This collaboration with MasterCard
will help the Government bring innovative new solutions to the Egyptian
population.”
According to the Minister,
knowledge transfer will play an important role in the partnership and
MasterCard’s expertise will be leveraged to boost innovation efforts and
enhance citizen engagement. A number of innovative programs will be implemented
in the near future to help achieve these goals.
Ajay Banga, Chief Executive
Officer, MasterCard said: “This partnership highlights our commitment to Egypt
and its people. It is crucial for us to join forces with governments around the
world to accelerate positive change for citizens. We have a long and rich
history in Egypt, and we are excited about the opportunity to provide more
Egyptians with access to financial services.”
As part of the agreement, MasterCard will also be working alongside Egypt Post to fully digitalize its customer base, and enable its 4000 branches to offer electronic value-added-services, employee trainings and expert driven workshops. This will help Egypt Post transition towards cashless payment solutions through the use of mobile phones and credit cards, ultimately improving its services and enhancing convenience.