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Orascom Financial Holding's Dot Obtains Central Bank of Egypt License

The private application will be launched in partnership with the Arab African International Bank with big ambitions, aiming to onboard more than one million customers as a medium-term goal.

As Egypt pushes towards achieving financial inclusion, the private sector is teaming up with public financial institutions to increase accessibility to Egyptians. This is being achieved through stimulating the tech and fintech space in Egypt with new innovative technologies. Orascom Financial Holding (OFH) is capitalising on the flourishing FinTech space, partnering up with software development company, EXCEL System to launch a new fintech specialised in electronic payments ‘Dot’. The company was announced back in March 2021 through ‘Klivvr – Celever’, naming serial entrepreneur Mohamed Aboulnaga as co-founder CEO. 

Dot Electronics Development and Electronic Payments Company has now obtained its license from the Payment Systems and Services Sector of the Central Bank of Egypt. The private application will be launched in partnership with the Arab African International Bank with big ambitions, aiming to onboard more than one million customers as a medium-term goal. 

“We are working hard with the Central Bank of Egypt, the Arab African International Bank and all our partners to provide different solutions that meet the needs of all segments of society, especially young people, to provide methods and tools aimed at achieving financial health for all segments of society through the klivvr app," Aboulnaga said. The community .”

A subsidiary of OFH, Klivvr is set on disrupting the way people manage their finances, teaming up with public entities to stimulate the Egyptian FinTech market, decrease the number of unbanked Egyptians and provide the public with streamlined ways to finance their day-to-day lives.