[REVISION HISTORY]

Egypt fintech sector development

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-10-18 12:25 UTC → 2026-10-18 18:12 UTC · added ~~removed~~

Egypt is expanding its financial technology (fintech) sector through ~~both~~ regulatory approvals and strategic partnerships. The Financial Regulatory Authority (FRA) has approved ~~six~~ several companies to conduct non-banking financial activities using ~~fintech, including Welty Financial Holding, Welty Securities, Paymob, Mid Bank, Fawry, and BM Consumer Finance. These approvals aim~~ fintech to support digital transformation and expand service reach. Recent FRA approvals include Wilzy Financial Holding for securities custody and Wilzy Securities Trading for digital trading mechanisms. The authority also authorized the ~~reach~~ establishment of ~~non-banking services.~~ two fintech startups focused on small and medium enterprises (SMEs): Paymob Financing and MIDBANK Digital Financing. Additionally, Fawry for Banking Technology and Electronic Payments was registered as a fintech outsourcing service provider for its own subsidiaries, and Souhoola, the consumer finance arm of Banque Misr, received authorization to operate via the V-Lens platform. This follows a previous suspension on new consumer finance fintech licenses issued in February 2026. In a parallel development, the Egyptian Exchange (EGX) and EGBANK’s MINT business accelerator have signed a memorandum of understanding to bolster the fintech ecosystem. This ~~partnership~~ partnership, signed in the presence of Egypt’s Minister of Investment and Foreign Trade, focuses on increasing investment awareness among entrepreneurs and providing startups with access to capital markets through initiatives such as the ‘MINT × EGX’ hackathon and specialized financial literacy training programs.

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