Billion pounds.. Network International aims to inject investments into the Egyptian market

Network International, the leading provider of services supporting digital commerce in the Middle East and Africa, aims to pump investments worth one billion Egyptian pounds to develop the field of electronic payment solutions and contribute to accelerating the pace of economic growth in Egypt.

This investment comes to confirm the company's firm belief in the potential of the Egyptian economy, and its keenness to achieve its goal of helping economies and businesses grow by simplifying payment and commercial operations.

Network International will develop its own digital payment services infrastructure in Egypt, keeping pace with the country's strategic direction towards digitizing cash payments, achieving financial inclusion, and thus stimulating GDP growth.

Part of this investment will be allocated to bringing and developing the advanced payment platform “Network One”, owned by Network International, which is designed to process payments for banks, financial institutions and financial technology institutions. Another part will be allocated to purchasing and activating nearly 100,000 advanced point-of-sale devices to provide merchants and medium and small companies with solutions to accept digital payments.

Network International

On this occasion, Nandan Mir, Group CEO of Network International, said: “This investment underscores our continued commitment to providing innovative payment solutions to Egyptian companies. We have been working for more than two decades to consolidate our presence in Egypt, by providing distinguished services to many banks and financial institutions, and it should be noted that the goal of this investment is not in its monetary value, but rather goes beyond it to include attracting and employing local talents and entrepreneurs. 

Egypt is our headquarters in Africa, and thanks to the talent of our Egyptian team, which has more than 700 employees, we serve more than 160 African banks and financial institutions and 65 banks in the Middle East.”

Dr. Reda Helal, Managing Director and CEO of Network International - Africa: “Our extensive experience in the field of providing digital payment solutions gives us the position of a major partner for most banks in Egypt and also enables us to support and serve the field of merchants in Egypt, in line with the government's drive towards achieving financial inclusion. We are keen to make accepting digital payments accessible to everyone by offering a package of economic solutions to the category of small merchants and small and medium-sized companies. While the Egyptian government adopts a well-established strategy and a strong action plan to accelerate the pace of digital transformation in Egypt, Network International is keen to be at the forefront of this transformation and support the goals of Egypt's Vision 2030.