Contributing to Egypt’s growth journey

SourceWamda
SectorTechnology
CountryEgypt

Dina H. Sherif, Mohamed Okasha and Malek Sultan are managing partners at Egypt-based VC firm Disruptech. This article was originally posted on LinkedIn. The Arab region is a unique region. We could write about its distinctive historical, socio-economic, and political conditions forever, without running out of material. Yet, amid this wealth of information, we want to zoom right in on a very interesting fact. The region has the world’s lowest bank penetration rate in the world - only slightly over 14 per cent are in the formal banking system. If you think that’s what makes our region unique however, you would be wrong. The uniqueness only appears when you juxtapose that low bank penetration rate with an internet penetration rate that exceeds 100 per cent, a mobile penetration rate that exceeds 100 ...read more...