The UAE’s fintech sector contributes 8.7% to the country’s GDP, with plans to increase this to 12% by 2031. The country is also focusing on the space economy and agricultural innovation, driving growth in new sectors. Additionally, 200,000 new business licenses were issued in 2024, boosting economic activity.
Fawry has made strategic investments totaling EGP 80 million in three Egyptian tech companies—Dirac Systems, Virtual CFO, and Code Zone. These investments expand Fawry’s “Fawry Business” suite, enhancing its ERP, financial management, and digital payment solutions for businesses, driving Egypt’s digital transformation and contributing to its cashless economy.
Basata has increased its stake in MadfoatCom to 25%, strengthening its role in advancing digital payments and financial inclusion in Jordan. The partnership, backed by Jordan Kuwait Bank and the Social Security Investment Fund, focuses on enhancing digital payment solutions, money transfers, and supporting SMEs through financial tools.
Basata Holding has increased its stake in MadfoatCom to 25%, aiming to accelerate digital financial inclusion and enhance digital payments in Jordan. The partnership will focus on scaling digital payment services and supporting SMEs with financial tools. The collaboration involves key Jordanian financial institutions, including Jordan Kuwait Bank.
Entlaq, in collaboration with the Netherlands Enterprise Agency (RVO) and the Embassy of the Netherlands, launched a Fintech Report highlighting Egypt’s growing financial technology sector. The report outlines key trends, challenges, and opportunities, positioning Egypt as a leader in MENA’s fintech space and emphasizing the importance of financial inclusion.
XPay has partnered with Huawei Cloud Services to enhance digital payment systems for businesses in Egypt. The integration of Huawei’s cloud technology will scale XPay’s services, supporting financial inclusion through multiple payment methods. This move is part of Huawei’s broader push into the fintech sector globally.
Trevi, an e-payment and loyalty app, has launched in Egypt, offering secure transactions, instant cashback, and rewards with no cap. Partnering with Paymob, Trevi aims to revolutionize digital payments, targeting 11.4 million users by 2029. Upcoming features include SNPL and Lending & Leasing services for a comprehensive financial solution.
Nepalese fintech companies Khalti and IME Pay have signed an MoU to merge, marking the country’s first-ever digital wallet consolidation. The merged entity may be named ‘IME Khalti’ or ‘Khalti Pay.’ This move follows a regulatory change by Nepal Rastra Bank, allowing digital wallet mergers under certain conditions.
Barq, a Saudi fintech company, has partnered with Alipay+ to enhance cross-border payments, becoming part of Alipay+’s international network. This collaboration supports Saudi Arabia’s Vision 2030 by improving financial transactions and boosting tourism. Barq’s previous partnership with Mastercard in 2024 further strengthens its payment solutions.
Yuze, a UAE-based digital business banking platform, is set to expand into India in Q2 2025. The platform will offer SMEs and freelancers in India tailored financial solutions, including digital accounts, automated invoicing, and expense tracking tools. Yuze aims to support financial inclusion and business growth in India’s digital economy.
