Egypt eyes surge in Fintech investment after new laws

New legislation and regulatory changes in Egypt are set to unleash a surge in new Fintech investments and change the way the country largely unbanked citizens do business

In September, the government passed a new law governing the central bank with provisions allowing it to give out banking licences to fintech firms, which would benefit lending players in the country

One Fintech innovator is MNT NV, a microfinance lending and Payments Company with more than a million active customers and a 21.7% market share. It has just completed a share swap to take over Fintech Halan Inc, Mounir Nakhla, a cofounder of both firms, told Reuters.  MNT is marrying its large base of unbanked users with electronic technology, hoping to place itself at the forefront of a digital transformation.