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Binance has secured a historic $2 billion investment from UAE-based MGX, highlighting the fintech boom in the MENA region, where 119 startups raised $700 million in 2024. Key players like Tabby, Fawry, and Rasan are leading the charge, with significant growth in digital payments, BNPL services, and insurtech, setting new benchmarks in the global fintech landscape. The future looks promising, with expectations of more unicorns and international expansions on the horizon.
The Arab region's GDP rose by 1.8% to $3.6 trillion in 2024, driven mainly by growth in Saudi Arabia, the UAE, Egypt, Iraq, and Algeria, which account for over 72% of the total GDP. Looking ahead, a positive outlook for 2025 anticipates a growth rate of 2.9%, bolstered by increased oil production and major investments, particularly in Saudi Arabia under the Vision 2030 program.
The Arab region's GDP rose by 1.8% to $3.6 trillion in 2024, driven mainly by growth in Saudi Arabia, the UAE, Egypt, Iraq, and Algeria, which account for over 72% of the total GDP. Looking ahead, a positive outlook for 2025 anticipates a growth rate of 2.9%, bolstered by increased oil production and major investments, particularly in Saudi Arabia under the Vision 2030 program.
Emirates NBD has received approval from Egypt’s Central Bank to acquire a 45% stake in Banque Du Caire for USD 1 billion, marking a significant step in Egypt's privatization efforts. Banque Du Caire reported a 112% increase in net profit for 2023, reaching EGP 6.7 billion, with total assets rising 25% to EGP 402 billion. This acquisition aligns with Egypt's strategy to raise USD 2.5 billion through the sale of state-owned businesses during the 2024-2025 fiscal year.
Emirates NBD has received approval from Egypt’s Central Bank to acquire a 45% stake in Banque Du Caire for USD 1 billion, marking a significant step in Egypt's privatization efforts. Banque Du Caire reported a 112% increase in net profit for 2023, reaching EGP 6.7 billion, with total assets rising 25% to EGP 402 billion. This acquisition aligns with Egypt's strategy to raise USD 2.5 billion through the sale of state-owned businesses during the 2024-2025 fiscal year.
A wave of investments is propelling the growth of startups across the MENA region, with significant funding rounds in fintech, healthcare, and e-commerce. Notable highlights include PayTabs acquiring a 51% stake in PayTabs Egypt, Klaim raising $10 million for healthcare fintech expansion, and Aya securing $1.5 million for its modest fashion e-commerce platform. These developments reflect strong investor confidence in innovative business models and emerging technologies.
A wave of investments is propelling the growth of startups across the MENA region, with significant funding rounds in fintech, healthcare, and e-commerce. Notable highlights include PayTabs acquiring a 51% stake in PayTabs Egypt, and Klaim raising $10 million to enhance medical insurance claims processing. Other startups like Motery and Longevity Wellness Hub are also securing funds to expand their innovative solutions in their respective sectors.
Valu has emerged as Egypt's leading financial super-app, boasting over 700,000 active users and launching co-branded credit and prepaid cards that achieved 1.2 million transactions in a year. The fintech ecosystem is expanding with new products like Ulter and Shift, alongside a growing merchant network of 7,000 retailers and 2,000 online stores.In the MENA region, fintech is evolving beyond payments and lending, with a focus on wealth management and AI-driven services. Companies like MyFatoorah and MNT-Halan are making significant strides, while cross-border expansion is anticipated, positioning the region for a robust future in the global fintech landscape.
Valu has emerged as Egypt's leading financial super-app, boasting over 700,000 active users and launching co-branded credit and prepaid cards that achieved 1.2 million transactions in a year. The fintech ecosystem is expanding with new products like Ulter and Shift, alongside a growing merchant network of 7,000 retailers and 2,000 online stores.In the MENA region, fintech is evolving beyond payments and lending, with a focus on wealth management and AI-driven services. Companies like MyFatoorah and MNT-Halan are making significant strides, while cross-border expansion is anticipated, positioning the region for a robust financial future.
Phoenix Venture Partners has completed the second closing of its $50 million Innovation Fund, aimed at supporting early-stage startups in the MENA region. The fund will focus on high-growth sectors such as fintech, healthtech, edtech, and sustainability, reflecting strong investor confidence and alignment with regional economic initiatives. This milestone positions PVP to drive innovation and economic growth in the fast-evolving startup ecosystem.
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fintech growth in mena highlights emerging players and investment opportunities
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19:42 16.03.2025
Arab region GDP grows 1.8 percent to 3.6 trillion in 2024
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13:49 16.03.2025
Arab region GDP grows 1.8 percent to 3.6 trillion in 2024
13:49 16.03.2025
Emirates NBD to acquire 45 percent stake in Banque Du Caire
13:06 16.03.2025
emirates nbd to acquire 45 percent stake in banque du caire
13:06 16.03.2025
mena startups secure significant funding to drive regional growth and innovation
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21:01 15.03.2025
mena startups secure significant funding to drive regional growth and innovation
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21:01 15.03.2025
fintech revolution in mena drives growth and innovation in 2024
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00:50 15.03.2025
fintech revolution in mena drives growth and innovation in 2024
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Moayad Alfallaj
Ahmad Hammouda
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00:50 15.03.2025
phoenix venture partners secures fifty million dollars to boost mena startups
18:47 13.03.2025
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