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Thursday, 11 August 2022

Egyptian financial services firms recognized by Global Banking and Finance Review + Forbes

Global Banking and Finance Review names best Egyptian banks + NBFIs of the year: The Global Banking and Finance Review has released its 2022 list of top-ranked Egyptian banks and non-banking financial institutions. Check out the full list here.

Five Egyptian fintech companies have been featured on Forbes’ top 25 fintech companies for 2022:

  • Financial services provider Aman: Founded in 2015 by Mohamed Wahby (LinkedIn) and Hazem Moghazi (LinkedIn), the company is Raya Holding’s non-banking financial services outfit.
  • E-payment platform Fawry, which was founded in 2008 by Ashraf Sabry (LinkedIn). Abu Dhabi sovereign wealth fund ADQ purchased an 11.8% stake in the company in April.
  • Super app MNT-Halan, which was set up in 2018 by Mounir Nakhla and Ahmed Mohsen (LinkedIn). It is the product of Netherlands-based payments company MNT entering into a share swap agreement with Egyptian fintech / delivery / ride-hailing company Halan.
  • E-payment platform Paymob, which was founded in 2015 by Islam Shawky, Alain El Hajj (LinkedIn) and Mostafa Menessy (LinkedIn). The company is responsible for Egypt’s largest funding round so far this year, raising USD 50 mn in a series B round in May.
  • BNPL platform valU: The EFG Hermes consumer finance subsidiary was founded in 2017 by Walid Hassouna (LinkedIn). Last we heard the company is looking to make its EGX debut sometime within the coming two years.

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