The Central Bank of Egypt has approved a request from key limited partners of the Nclude FinTech Fund to appoint Development Partners International as the fund’s new manager. The management transfer was marked by a signing ceremony witnessed by Deputy Governor Rami Aboulnaga and is intended to attract additional foreign investment into Egypt’s fintech sector, with Nclude aiming to become the region’s largest fintech-focused investment fund and a targeted capital of USD 150 million. The Central Bank of Egypt linked the move to its broader efforts to support fintech and innovation, accelerate digital transformation and promote financial inclusion. It highlighted Nclude’s reported track record in mobilising foreign capital, stating that each USD 1 invested by the fund in Egyptian-market startups has leveraged an additional USD 5 from foreign investors. The fund was launched with backing from Banque Misr, the National Bank of Egypt and Banque du Caire, alongside Egyptian Banks Company for Technological Advancement, e-Finance Investment Group and Mastercard, and is positioned as part of the Central Bank of Egypt’s FinTech and Innovation Strategy to improve access to funding for fintech startups and support investments into fintech and fintech-enabled firms planning to operate in Egypt.
Central Bank of Egypt 2025-06-12
Central Bank of Egypt approves DPI as new manager of the Nclude FinTech Fund targeting USD 150 million
The Central Bank of Egypt approved Development Partners International as the new manager of the Nclude FinTech Fund, targeting USD 150 million to attract foreign investment and become the region's largest fintech fund. This aligns with the Central Bank's strategy to support fintech innovation, digital transformation, and financial inclusion. Backed by major Egyptian banks and Mastercard, the fund aims to enhance funding access for fintech startups and firms in Egypt.