Population
114.3M
Online population
82M
Currency
EGP
Population - 114.3M
At the start of 2024, 43.2% of Egypt’s population lived in urban centres, while 56.8% lived in rural areas.
Internet penetration - 72.2%
There were 82M internet users in Egypt at the start of 2024.
In line with the Central Bank of Egypt’s endeavors to endorse the FinTech industry and provide a full-fledged understanding of the developments witnessed in this vital sector, FinTech Egypt – an initiative by the CBE - has released ’Egypt's FinTech Landscape Report 2023’, instrumented thoroughly by a combination of suitably designed surveys directed to more than 250 organizations from the FinTech ecosystem; including 177 FinTech & FinTech-enabled startups and Payment Service Providers (PSPs), 36 Investors, Accelerators and Incubators, 36 Banks, and 4 National Financial Infrastructure Providers and Payment System Operators (PSOs), in addition to, a number of Regulatory and Government Entities enabling this industry.
In Egypt’s FinTech landscape, key players encompass notable entities across various sectors, including national financial infrastructure providers and PSOs like Instapay and Meeza, lending and alternative finance represented by Valu, and payments and remittance services offered by Fawry. These FinTech companies play pivotal roles in shaping and advancing financial services within the Egyptian market.
As of Q2 2024, Egypt has become a leading hub for unicorns in Africa, second only to Nigeria, with companies like Fawry and MNT-Halan driving economic growth and digital transformation.
<aside> 🪧 FinTech Egypt is a unified platform to foster and connect all FinTech ecosystem stakeholders, including FinTech startups, financial institutions, regulators, service providers, mentors and investors. FinTech Egypt announced the introduction of the ‘Fundamentals of FinTech’ course in collaboration with the Egyptian Banking Institute (EBI), as part of the ‘FinYology’ programme.
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There are 37 banks operating in Egypt.