In a strategic move to accelerate its digital transformation agenda, the Central Bank of Egypt (CBE) and the Ministry of Communications and Information Technology (MCIT) have launched the ‘AI for FinTech’ Hackathon. The initiative, operating under the FinTech Egypt umbrella, is designed to cultivate talent from the Digital Egypt Builders Initiative (DEBI) and drive innovation within the nation’s burgeoning financial technology sector.
A Strategic Push for Digital Talent
The hackathon equips DEBI students with advanced skills in artificial intelligence, data analytics, and programming to solve tangible challenges within the banking industry. This initiative is a core component of the CBE’s FinTech and Innovation Strategy, which identifies talent development as a crucial pillar for sustainable growth.
Ayman Hussein, First Sub-Governor for the Information Technology Sector at the CBE, emphasized the program’s strategic importance during the graduation ceremony. “Empowering youth with the technical and practical expertise to compete globally is central to our vision,” he stated, highlighting the collaborative effort between the CBE and MCIT to build a future-ready workforce.
Bridging Theory and Practical Innovation
The program is structured to close the gap between academic knowledge and real-world application. Hoda Baraka, Advisor to the ICT Minister for Technology Talents Development, noted the importance of synergy between government bodies, academia, and the private sector in nurturing a new generation of tech leaders. During the hackathon, participants developed and presented AI-driven financial solutions to a panel of experts and industry leaders, demonstrating their ability to tackle complex, practical problems facing Egypt’s financial ecosystem.
Pathways to Professional Success
The hackathon serves as more than just a competition; it is a launchpad for promising careers in FinTech. Afdal Naguib, CEO and Managing Director of saib Bank, described the event as a transformative opportunity for students to gain direct experience. To ensure the most promising ideas continue to develop, winning teams will receive a comprehensive support package, including financial backing, professional mentorship, and employment opportunities to integrate their projects into the market. This direct pipeline from training to employment reinforces Egypt’s commitment to retaining top talent and solidifying its position as a regional hub for FinTech innovation.
About FinTech Egypt
FinTech Egypt is an initiative powered by the Central Bank of Egypt that serves as a unified platform to foster and connect all stakeholders within the country’s financial technology ecosystem. It aims to promote collaboration, drive innovation, and support the growth of startups to establish Egypt as a leading FinTech hub in the Middle East and Africa.
Source: MEA TechWatch
