Amany El Toukey’s Bosta Bank is utilizing an innovative approach to crowd funding which simultaneously tackles systemic issues of poverty, gender inequality, and unemployment. Based in Helwan, Bosta Bank gathers together groups of women in marginalized communities who each contribute one Egyptian pound per day into a collective savings pot. Over time, the amount saved grows and can be loaned or gifted to members of the group to support small-scale purchases, projects, and businesses.
This self-governed form of microfinance provides basic financial services to those unable to access formal banking systems, allowing individuals to address their most pressing needs as they see fit. Concurrently, Bosta Bank enhances the position of women, encouraging wider participation in public life and financial decision making.