Out of the shadows, Egypt money-pooling apps thrive - in pictures

An employee at "al-Gameya", a tech startup the runs an app to facilitate for strangers to create an informal money-pooling association to provide access for money in time of need, holds a phone with the application open at the company offices in Egypt’s capital Cairo. Cash-strapped Egyptians fearful of banks have long relied on a "gameya" to access money in time of need, but now tech startups are cashing in on the practice. Such cooperative systems that allow people to save and borrow money is popular in parts of the world, including Africa and Latin America. Participants put an equal amount each month in a pot and take turns to collect the sum that has accumulated. On average, a "gameya" lasts between five and 20 months and is not limited to a particular economic class. All photos: AFPShow less

All photos: AFP

ElGameya, a tech start-up in Cairo, runs an app for strangers to pool money, providing access to cash in times of need.

Cash-strapped Egyptians fearful of banks have long relied on a "gameya" to gain access to money in times of need, but now tech start-ups are cashing in on the age-old money-pooling association.

"Gameya", which means association in Arabic, is a practice in Egypt that dates back to at least the turn of the 20th century.

Participants put an equal amount each month into a pot and take turns to collect the sum that has accumulated.

Ahmed Mahmoud, 28, who started the ElGameya app in 2019, said: "In three simple steps we get rid of logistical hassles" that come with the old way of doing things. Users need to register, upload their supporting documents and sign a contract to start using the app, he said.