Every payment above EGP100,000 (about $5,500) to government institutions should be done electronically from January 2019, Egypt’s finance minister announced last September 15.
According to the country’s authorities, this decision is part of the government’s plan to achieve financial inclusion and migrate towards a cashless society. Any citizen who will use cash for transactions beyond the above-mentioned volume will incur fines up to EGP10,000 (about $550).
Such decision is also part of the implementation of an Information Technology system for the country funds’ management (Système d’information sur la gestion financière du gouvernement-GFMIS). In that regard, Egypt has organized ongoing trainings, aimed at civil servants, on the use of the new electronic system. In the framework of that program, required infrastructure would be provided to public institutions.
The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...
The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...
By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...
As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...
- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...
Senegal and Vietnam discussed digital tech cooperation on July 23. Talks support Senegal’s goal to become a digital hub and expand rural...
Mali approved a $238M World Bank loan to build key roads, including Sandaré-Diéma. Project boosts the Bamako-Dakar trade corridor and rural...
As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth inclusion. Developing these capabilities widely is...
New industrial and trade dynamics are emerging in Africa, driven by renewable energy. The REN21 network analyzes how these value chains could strengthen...
Perched in the rugged heights of the Djebel Nefoussa in northwestern Libya, Qasr Al Haji (also spelled Ghasr Al-Hajj) is a striking example of traditional...
In southeastern Morocco, near the Algerian border, lies Merzouga—a small village at the heart of the Saharan desert, known for its monumental dunes and...