Dahab Masr, Kash Now to Offer Gold Purchasing OnlineSource: www.export-egypt.com 11/12/2023, Location: Africa |
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Dahab Masr has entered into a strategic partnership with Egypt-based digital payment provider Kash Now to facilitate gold purchasing through the Kash Now app.
With the new partnership, customers will be able to conveniently purchase gold through the Kash Now app and pay using their digital wallet. The range of available gold weights starts from 0.25 grams, allowing individuals to invest according to their financial capacity. Purchased gold will be delivered to customers at their homes, simplifying the buying process. Amr Salem, the CEO of Kash Now, highlighted that this step is in line with Egypt's commitment to digital transformation, financial inclusion, and the provision of innovative financial services. The partnership aims to enhance the accessibility of the gold market and remove all barriers for potential investors, Salem added. For his part, Amr Fouad, the General Manager of Dahab Masr, noted that this collaboration provides an innovative way for Egyptians to access the gold market easily. By breaking down traditional barriers, the partnership opens up new investment opportunities for a wider range of individuals, Fouad noted. He also stated that this alliance reflects a promising future, showcasing Egypt's economic and financial development while improving the lives of its citizens through diversified investment options. In line with these advancements, the Assay and Weights Administration (AWA) of Egypt is set to hold its first-ever electronic auction for gold and silver. Scheduled to take place, the auction will feature 66 gold bars and 41 silver bars. Previously, citizens could only purchase gold from traditional goldsmith shops. However, with the introduction of electronic auctions and platforms, consumers can now conveniently acquire gold. In another significant development, Egypt's asset manager Azimut and investment company Evolve Holding have jointly launched the country's first gold investment fund. The fund allows individuals to invest in 24-carat gold bars and issue certificates starting from EGP 10, providing an accessible entry point for investors interested in the gold market. Gold prices showed mixed performance over the past week, starting with an increase ranging from EGP46 to EGP23 for all carats, and concluding session with a decrease ranging from EGP51 to EGP39 for all carats. |
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