( 3 minutes read)
· Egypt’s TradeTech innovator, Ovamba Solutions and financial services provider, Singularity ( Finance) have tied to deliver financial inclusion solutions and growth capital packages to small and growing businesses in Egypt to facilitate the small sector in the country
· This partnership will enable Singularity the rights to sell Ovamba’s digital solutions to banks, microfinance institutions and to those who provide of trade finance to small and medium enterprises in Egypt
Egypt’s TradeTech innovator, Ovamba Solutions and financial services provider, Singularity ( Finance) have come together to deliver financial inclusion solutions and growth capital packages to small andngrowing businesses in Egypt to facilitate the small sector in the country. This partnership will enable Singularity the rights to sell Ovamba’s digital solutions to banks, microfinance institutions and to those who provide trade finance to small and medium enterprises in Egypt.
For enterprises which wish to invest in trade finance transactions independently, there is Pamoja™, which showcases the same capabilities found in BankPartner™. It streamlines the work flows for investor and portfolio management, and facilitates financing transactions of any kind. Equipped with the embedded solution package, the software helps expand the financial eco-system offering a set of bank grade products. The firm also can offer this tool to other Banks and MFIs for rolling out their own platforms. With the new tie up in place with Ovamba, Singularity will be able to reach out customers on a pan-Africa basis.
Importantly, the solution will have embedded Islamic finance elements in the technologies to de-risk the business systems. Both Ovamba and Singularity are responding to the challenges that may arise in the financial inclusion trail to reposition themselves in the new environment , wherein technology and appropriate solutions would be major drivers of growth.
