Egypt: Mastercard joins B2B platform Boost to drive growth of FMCG businesses

Mastercard has partnered with B2B commerce platform Boost to accelerate the growth of micro, small, and medium enterprises (MSMEs) in Egypt and beyond, according to an official statement.

The collaboration targets high-growth markets, starting in Egypt, Kenya, Nigeria, Ghana, and South Africa. It further aims to empower MSMEs with digital payment solutions, embedded credit, and integrated supply chain financing.

Mastercard’s Executive Vice President, Market Development, EEMEA, Amnah Ajmal, commented: "Through our partnership with Boost, we are strengthening the support ecosystem for MSMEs in emerging markets by providing essential digital tools and financing solutions to help them succeed in today’s digital economy.”

The collaboration supports Mastercard's goal to integrate 50 million MSMEs into the digital economy by 2025.

Co-Founder and CEO of Boost, Mike Quinn, stated: “We have already proven that our highly scalable platform, coupled with our WhatsApp ordering solution, can power cost-effective growth across multiple channels in urban, peri-urban and rural settings by providing end-to-end visibility, increased coverage and direct-to-retailer digital promotions.”

Quin concluded: "Mastercard will help us take our model to the next level to create transformative value for our customers and partners while fueling our global ambitions.”

It is worth noting that Mastercard launched new technology infrastructure in Saudi Arabia to boost e-commerce transactions locally as announced during Seamless KSA this year.

SOURCE: zawya