Entlaq, in collaboration with the Netherlands Enterprise Agency (RVO) and the Embassy of the Netherlands in Egypt, has launched a comprehensive Fintech Report that explores the rapidly evolving financial technology sector in Egypt. The report highlights the growth potential, market trends, challenges, and opportunities for local and international stakeholders.
The launch event, hosted at the embassy, featured prominent speakers including H.E. Mr. Hossam Heiba, President of GAFI, and H.E. Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA). The event also included an expert roundtable discussion, “Scaling Fintech in Egypt: From Startups to Global Impact,” which gathered key figures from Egypt’s fintech ecosystem, such as Ahmed Yehia, CEO of FinTech and Digital Lifestyle, e& Egypt, and Ahmed Wady, CEO of Money Fellows.
The report reveals that Egypt is now home to over 177 fintech startups and payment service providers, positioning the country as a regional leader in digital financial services. It emphasizes the transformative role fintech plays in driving financial inclusion, digital innovation, and economic resilience, while also highlighting the challenges ahead, such as regulatory complexities, digital literacy gaps, and cybersecurity concerns.
Peter Mollema, Ambassador of the Kingdom of the Netherlands in Egypt, praised the fintech sector’s growth and the role of collaboration and expertise-sharing in driving financial inclusion and economic empowerment, particularly for women. Omar Rezk, Co-founder and Managing Director of Entlaq, stressed the substantial economic impact of fintech in Egypt, noting the 5.5-fold increase in fintech companies over the past five years.
The report further explores government initiatives, the Fintech & Innovation Strategy, and policies designed to foster financial inclusion and digital transformation. It also provides strategic recommendations to help stakeholders navigate Egypt’s dynamic fintech landscape, ensuring continued growth and sustainability.
