Egyptian Fintech Landscape in 2020: A quick guide

Egyptian Fintech Landscape in 2020: A quick guide

The fintech landscape in Egypt (and even rest of the MENA) has taken a huge leap over the last few years.. In the last two years, we've seen the launch of different dedicated fintech accelerators, fintech-focused venture capital funds, and different government initiatives to support an evergrowing fintech scene that is trying to solve different financial challenges faced by individuals and businesses in Egypt.. We've tried to put together a quick guide to bring you up to speed on what has been happening in the fintech ecosystem of Egypt.. The government has been taking different initiatives to encourage fintechs in the country.. The investment initiatives include names like EFG-EV, the fintech accelerator program that was founded by the leading financial institution EFG Hermes and Egypt Ventures; and Startup Bootcamp and Pride Capital's Fintech Cairo.. 1) Capitalizing on the opportunity of serving the unbanked or underbanked, a large number of startups are targeting low-income segments as their primary customers.. The fintech ecosystem in Egypt is quickly evolving and growing and we think it will continue to grow despite different challenges faced by all the stakeholders operating in this space..