The Sovereign Fund of Egypt (TSFE) and Etisalat Egypt ( E&) have partnered together to launch a new fintech company, “Erada For Microfinance”, with the aim of enabling micro and small enterprises to access a wide range of financial services. The partnership is in line with Egypt’s Vision 2030 of supporting financial inclusion and creating opportunities for youth through providing innovative financial services and digitally enabled lending products.

‘Erada For Microfinance’ is a regulated financial institution, providing a multitude of Microfinance products, with a goal to create financial inclusion that is powered by Ai technology and smart machine learning for the Egyptian population. Understanding that the unbanked population in Egypt is much higher than the banked, Erada facilitates access to microcredit, nano-lending, small enterprise lending, and a set of products that suit merchants and companies alike over a short period of time, all for the underserved, non-bankable, productive groups in Egypt, exclusively under one digital umbrella.