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    ICT Minister Witnesses Signing MoU between ENPO, EMF

    Cairo, 10 January 2020

    The Minister of Communications and Information Technology Amr Talaat has witnessed the signing of a Memorandum of Understanding (MoU) between Egypt National Post Organization (ENPO) and the Egyptian Microfinance Federation (EMF). The aim is to provide a range of EMF financial and non-financial services through post offices, nationwide.

    The signing ceremony was attended by the Chairman of the Financial Regulatory Authority (FRA) Mohammed Omran. ENPO Chairman Essam El-Saghir and EMF Chairperson Mona Zulficar signed the MoU.

    This comes within the framework of the stateís plans that target achieving financial inclusion for the different segments of society and providing various funding models for economic activities sectors. The MoU also aims to help provide funding for micro enterprises, promote self-employment to reduce unemployment and utilize ENPO great potentials represented in its infrastructure and the wide geographical distribution of post offices. This is in addition to promoting savings culture to achieve financial inclusion for EMF customers.

    For his part, El Saghir highlighted the MoU significance represented in contributing to proving EMF services to its customers in different areas, villages and hamlets in all governorates, utilizing the wide spread of post offices, amounting to around 4K offices, nationwide. This will help ensure access of a large number of citizens to microfinance services, smoothly, especially in Delta and Upper Egypt.

    Moreover, the MoU provides for marketing craft products of small business owners on ENPO website, opening current accounts for EMF clients, disbursing EMF funds to its clients, collecting loans installments and sending instant loan payment notifications.

    This is in addition to providing express mail services, delivering parcels, receiving credit inquiry reports of microfinance customers and exchanging their monthly data through EMF, for its members who cannot have a direct link with the Egyptian Credit Bureau "I-Score", or communicating with EMF electronically using ENPO e-payment methods.

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