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Cairo, Egypt: In an effort to unify government and private sector efforts to support Egypt’s financial reform and empower small and medium-sized enterprises (SMEs), Cairo hosted the first meeting of H.E. Minister of Finance, Mr. Ahmed Kouchouk, with members of the T20 association, with the participation of Jumia Egypt. The meeting aimed to discuss the future of financial reform and the role of technology in driving economic growth.
This marks the first meeting of its kind between the Minister of Finance and T20, with the presence of Mr. Abdellatif Olama, CEO of Jumia Egypt and Chairman of the Board of Trustees of T20.
The discussion covered key topics related to the private sector’s role in supporting the Egyptian economy and advancing digital transformation. Key areas of focus included strengthening the economy, investment in different industries including the information technology sector, financial and tax reforms, and capitalizing on the wealth of data garnered by the integrated digital taxation system. The meeting also emphasized the importance of promoting financial inclusion to reach all segments of society, particularly in remote and underserved areas, and fostering digital economic growth through public-private collaboration.
Additionally, the meeting explored financial reforms that could enhance the business environment and attract both local and foreign investments. It underscored the importance of simplifying tax procedures to improve the investment climate.
At the start of the meeting, H.E. Minister Ahmed Kouchouk expressed his appreciation for the private sector’s role, commending its initiatives that directly contribute to the government’s vision for financial reform and economic growth. He emphasized that public-private cooperation is a key factor in achieving digital transformation and enhancing Egypt’s economic competitiveness.
On the sidelines of the meeting, Olama discussed with H.E. the Minister Jumia’s alignment and support for the initiatives highlighted in the four pillars announced by the H.E. at the Egyptian parliament. Jumia asserts its role in supporting the Egyptian economy and positioning Egypt as a key gateway for e-commerce and trade in Africa. As the leading e-commerce and technology company in Africa and a publicly listed firm on the New York Stock Exchange (NYSE), Jumia is committed to supporting the Egyptian economy by empowering SMEs and strengthening Egypt’s role as a regional hub for digital commerce. Olama also emphasized the roles that e-commerce plays in formalizing SMEs, expanding the reach of local products beyond the Egyptian market to regional and global levels, and contributing to sustainable economic growth.