San Francisco, U.S.- The Dominican Republic’s Ministry of Industry, Commerce and MSMEs (MICM) and U.S.-based fintech company NCLUSION have agreed to expand the company’s operations in the country through an investment program worth hundreds of millions of pesos.
The agreement was formalized in San Francisco, California, through a memorandum of understanding signed by MICM Minister Yayo Sanz Lovatón and NCLUSION CEO Jeffrey Haley.
The plans include the possible establishment of a regional headquarters and technology center in the Dominican Republic, along with the modernization and expansion of NCLUSION’s network of agents and retail service points.
The agreement also seeks to promote the formalization and regulatory compliance of the company’s operations, identify available investment incentives, and support financial inclusion and financial education initiatives.
NCLUSION will maintain and expand its Dominican workforce and expects its expansion to contribute to the creation and formalization of thousands of direct and indirect jobs.
MICM will assist the company with the licenses, permits, and authorizations required to develop the project and coordinate with the relevant government agencies.
NCLUSION provides financial services through networks of physical agents and retail access points, particularly in communities with limited access to traditional financial services. The planned expansion is expected to strengthen its infrastructure, technology, and presence across the Dominican Republic.