The collaboration aims to establish and operate a new network of branches to deliver comprehensive digital and financial services, supporting Egypt’s national agenda for financial inclusion and digital transformation. This partnership is set to enhance access to high-quality financial services for both individuals and businesses across the country.

The agreement was signed by Ahmed Enayet, CEO and Managing Director of Momkn, and Ahmed Faiz, Managing Director of El Barid for Distribution, in the presence of Ahmed Ghazy, Deputy CEO and Chief Commercial Officer at Momkn; Hady Ayad, Head of Retail and Strategic Partnerships; Essam Abdel Fattah, Head of Legal Affairs; Ahmed Abdel Aziz, Head of Finance; and Ahmed Farid, Senior Retail Manager at El Barid for Distribution.

Commenting on the agreement, Ahmed Enayet stated, “This partnership aligns with our strategy to support Egypt’s Vision 2030 for sustainable development by expanding digital service coverage, particularly to underserved and remote areas lacking access to traditional or digital financial services.”

He continued, “We’re proud to be working with El Barid for Distribution, which has extensive experience in managing service branches across Egypt under the franchise model. Their capabilities will enable us to deliver efficient, high-quality services that meet the evolving needs of customers.”

Ahmed Ghazy, Deputy CEO and CCO at Momkn, shared that the first phase of the partnership will see the launch of two new branches in Cairo and Port Said, with a gradual expansion plan to cover all governorates. Additional branches are expected in high-demand, densely populated areas.

Ghazy explained that the new branches will offer a full suite of services, including digital wallet onboarding, Know Your Customer (KYC) services, payment collection for individuals and businesses, and a variety of non-banking services, all delivered within a fully secure digital environment.

On his part, Ahmed Faiz, Managing Director of El Barid for Distribution, highlighted that the partnership is part of the company’s ongoing mission to strengthen Egypt’s service infrastructure. With over 15 years of experience in establishing and managing franchised branches, along with a robust logistics network covering all governorates, El Barid for Distribution brings extensive operational expertise to the table.

Faiz stated, “We are honored by the trust placed in us by Momkn and other leading institutions. We will ensure that the new branches are operated to the highest standards, delivering a premium customer experience that supports the state’s goal of reaching all areas—including villages and remote centers—with essential services.”

He emphasized El Barid for Distribution’s broad geographic footprint and agility in launching branches and staffing them with qualified professionals, which will be key to the success of this joint venture.

Faiz concluded, “Our commitment is to deliver a fully integrated, high-quality service experience that supports Egypt’s drive toward a sophisticated and inclusive digital economy, reinforcing the nation’s position as a regional hub for financial and technological innovation.”