Back to the complete issue
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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.