Arab Finance: Banque Misr and Vodafone Business signed a strategic cooperation protocol to deliver integrated operational and financial solutions that support entrepreneurs and small and medium-sized enterprises (SMEs) through the ENGEZ digital platform, according to a press release.

The agreement was signed between Hossam Eldin Abdelwahab, Deputy CEO at Banque Misr, and Mahmoud El-Khatib, Executive Director of Vodafone Business at Vodafone Egypt.

It aligns with Banque Misr's objectives to promote digital transformation and support the SME sector’s growth, within the framework of the state's direction towards achieving sustainable economic development.

The two parties will combine Banque Misr's banking expertise with Vodafone Business's digital capabilities to provide integrated financing and banking services for micro, small, and medium-sized enterprises (MSMEs) through the ENGEZ platform.

Moreover, the collaboration will offer the express lending product and the digital business onboarding service for opening accounts online that enables customers to open business accounts online, streamlining access to financing and banking services while supporting business growth.

The partnership targets several vital sectors, including retail, healthcare, manufacturing, services, tourism and hospitality, transportation, and real estate and construction, contributing to enhanced operational efficiency and supporting expansion plans.

Moreover, both sides will launch a unique banking and commercial offering that integrates digital solutions with financial services into a unified experience.

Customers using the ENGEZ platform will be able to open business accounts under preferential terms and benefit from discounted operating fees during the first year. The initiative is designed to lower operating costs, encourage business growth, and facilitate greater access to formal banking services for entrepreneurs and SMEs.