Egyptian fintech startup Bokra has announced a strategic partnership with digital payments provider Geidea to offer its Sharia-compliant digital savings products to Geidea’s extensive merchant network in Egypt. The collaboration will give more than 200,000 businesses access to tools for investing surplus cash directly through Geidea’s platform.
Quick Facts
- Partnership between digital savings platform Bokra and payments provider Geidea.
- Targets over 200,000 merchants on Geidea’s network in Egypt.
- Offers Sharia-compliant investment tools for surplus business cash.
Integrating Savings Into Payment Workflows
The partnership integrates Bokra’s digital savings solution into Geidea’s merchant platform. This allows business owners to invest excess liquidity and earn daily returns without disrupting their day-to-day operations.
The core feature is the ability for merchants to invest funds and maintain the flexibility to withdraw or redeem them as needed, directly addressing the challenge of managing idle cash. By making the savings product available within the existing payment ecosystem, the two companies aim to create a more efficient system for cash flow management for small and medium-sized enterprises (SMEs).
A Push For Better Liquidity Management
This move is designed to promote financial inclusion by making digital investment tools more accessible to a large segment of business owners who might not typically have access to them. The collaboration aims to help merchants turn idle funds into an additional source of returns.
Ayman El Sawy, Founder and CEO of Bokra, stated that the partnership is a significant step toward helping merchants optimize their available funds.
“Through our collaboration with Geidea, we are offering merchants a practical way to benefit from their available cash liquidity instead of leaving it idle. Through the Bokra Savings Account, merchants can grow their funds with daily returns that comply with Sharia principles while maintaining full flexibility to access their money whenever needed,” El Sawy said.
Ahmed Magdy, Chief Commercial Officer at Geidea, added, “This collaboration marks another step toward enhancing the value proposition offered to Geidea merchants by providing access to innovative digital financial solutions that help them manage their cash liquidity more efficiently. Today, Geidea serves as a strategic partner to merchants not only in payment acceptance but also in managing their cash portfolios efficiently.”
About Bokra
Founded in 2023, Bokra is a digital platform licensed by Egypt’s Financial Regulatory Authority (FRA) that enables individuals and businesses to save and invest in Sharia-compliant, asset-backed products. The platform offers investment opportunities in assets like real estate, precious metals, and debt instruments.
About Geidea
Geidea is a technology group specializing in payment services and smart point-of-sale solutions. Founded in Saudi Arabia in 2008, the company serves more than 650,000 merchants across the region, with operations in Saudi Arabia, the UAE, and Egypt.
Source: Zawya
