Egyptian startup Qardy, a marketplace and aggregator for debt financing, is planning to boost financial inclusivity across the country after signing a partnership with the Egyptian Post Office. Founded in July 2022, Qardy facilitates loans for MSMEs, with founder Abdel Aziz Abdel Nabi saying the startup’s goal was to be the “Amazon of lending”. “Qardy aims to cut the waiting time to get a loan from nine months to around 18 days. “For financial institutions, there is a high customer acquisition cost for them, and there is limited access to MSMEs. Its partnership with Egypt Post will enable it to provide its services to MSMEs through a network over 4,300 post offices across the Egypt.

Source: The North Africa Journal July 26, 2023 18:32 UTC