The Egyptian paradox

Egypt’s Booming Tech Scene Has A Fintech Space That’s Slow To Take Off

By  |  December 23, 2021

The speedy, meteoric rise of the booming tech landscape in Egypt can be considered one of the most remarkable yet underacknowledged developments in African tech over the last five years.

Within a relatively short period of time, Egyptian tech has gone from obscure footnote; to interesting surprise package; to impressive tech powerhouse in Africa - all within a few years. And having already scored its first unicorn in Fawry with the potential of registering another once Swvl lists publicly, Egyptian tech does look the real deal.

Throw in the fact that it is smashing records yearly and doing numbers [Egypt ranks No.3 (behind Nigeria and South Africa) in terms of African tech funding by country in 2021 with USD 588 M in 119 deals], and it’s evident that Egypt’s tech scene has moved into the big time in double time - having been somewhat late to the party.

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