The rapid evolution of financial technology (FinTech) is redefining the financial landscape in Egypt, driven by innovative solutions, government support, and a dynamic entrepreneurial spirit. As the largest Arab nation and the third largest population in Africa with a predominantly young and tech-savvy population, Egypt stands at the forefront of digital transformation in the Middle East and North Africa (MENA) region.
This report provides a comprehensive analysis of Egypt' s FinTech ecosystem, examining its current state, growth potential, and strategic opportunities. By addressing key challenges and leveraging untapped opportunities, Egypt can further solidify its position as a hub for financial innovation and inclusive economic growth.
The Egyptian Fintech ecosystem is projected to grow at an annual rate of 12% in financial services through 2025, further underlining its expansion potential. According to the Global Fintech Startup Ecosystem Index, Egypt ranked 10th among emerging Fintech startup ecosystems and ranks 3rd in the MENA region in Fintech talent and experience.
Egypt’s Global Business Services (GBS) sector surged by approximately 65% from 2020 to 2023, far exceeding the global services industry's growth rate of around 25%.
Notably, 43% of high-tech organizations now prioritize Egypt as their preferred GBS hub in the region, attracted by its distinctive blend of cost-effectiveness and access to a highly skilled, multilingual workforce with strong technical expertise.