Egypt's Fintech Sector Grew Fivefold in Five Years
Egypt's Fintech Sector Grew Fivefold in Five Years
A new report from Entlaq, in partnership with the RVO and the Embassy of the Netherlands in Egypt, highlights this growth.
Egypt's fintech sector has grown 5.5 times over the past five years, driven by digital payments, lending, and B2B marketplaces, according to a new report from Entlaq. The report was launched in collaboration with the Netherlands Enterprise Agency (RVO) and the Embassy of the Netherlands in Egypt.
Government initiatives and the Fintech & Innovation Strategy have contributed to this rapid expansion, though regulatory hurdles, digital literacy gaps, and cybersecurity risks remain significant challenges.
'Fintech is more than just technology; it's about empowering people and businesses with the financial tools they need to succeed in a digital world,' said Peter Mollema, Ambassador of the Kingdom of the Netherlands in Egypt. 'As the landscape report reveals, the rapid growth of Egypt's fintech sector presents a great opportunity to drive financial inclusion, economic resilience, and digital innovation.'
With over 177 fintech startups and payment service providers now operating in Egypt, the country has become a regional player in digital financial services. The 5.5-fold growth points to increasing investor confidence, shifting consumer behaviour, and a demand for more accessible financial tools. The report highlights how regulatory frameworks, public and private sector moves, and rising consumer adoption are shaping this transformation.
Omar Rezk, Co-founder and Managing Director of Entlaq, described the sector as being 'at a pivotal moment of transformation.' While he acknowledged challenges related to regulation, digital literacy, and cybersecurity, he noted that 'this report provides invaluable insights for policymakers, entrepreneurs, and investors looking to navigate and thrive in Egypt's dynamic financial technology landscape.'
Egypt's fintech boom signals a major shift in how financial services are accessed and used, but its long-term success will depend on how well it addresses regulatory gaps and infrastructure challenges.
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