Egypt’s Central Bank of FinTech Egypt initiative has just launched the nation’s first digital academy to enable employees to excel in banking, financial, and fintech industries. The academy is set to provide internationally accredited training programs, virtually and physically.
This program will launch in the first quarter of 2023 in collaboration with the Egyptian Banking Institute and the Centre for Finance, Technology, and Entrepreneurship; becoming a globally recognized fintech hub that produces the next generation of financial services, talent, and innovative development. The program will also include online workshops presented by esteemed academics and leading fintech experts. The academy will also empower employees to transfer their new skills directly to their jobs.
The national digital academy will be in line with Egypt’s 2030 vision, which requires Egypt to promote both balanced regional growth and all-encompassing sustainable development. Moreover, the vision primarily emphasizes the three aspects of sustainable development: the economic, social, and environmental components. These strategies came to life as the country chose to update its sustainable development strategy at the beginning of 2018 in order to stay up with developments on the local, regional, and global scales.
According to The Fintech Times, Egypt offered enormous promise for fintech and broader digital transformation in 2021. There were only two fintech firms in 2014; by the end of 2021, there are 112 of them operating in more than 14 sub-sectors, including lending, alternative finance, payments and remittance, and B2B marketplaces.
There is no doubt that this fintech program will allow for several industries to gain experience and innovate to expand Egypt’s economy which is currently enduring some hardships. Additionally, the 2030 vision of Egypt will enable such projects to increase and become a steady pillar for workforce development.