Egypt Dominates Forbes’ Middle East Fintech 50 List

Forbes Middle East recently released its list of the 50 most powerful Fintech companies in the region, which includes e-payments companies, open banking platforms, investment, and savings applications. Egypt leads the list with 13 companies, followed closely by the UAE and Saudi Arabia with 11 companies each, collectively representing 70% of the total classification.

Various factors were considered in compiling the list, such as the value of financing from investors and venture capital firms, evaluation metrics, transaction volumes through digital channels in 2023, number of active users, impact on consumers and businesses, operational presence in multiple countries, and growth achieved over the past year.

The Forbes Fintech 50 list includes a range of companies like Wio Bank, Fawry for Banking Technology and Electronic Payments, Tabby, MadfoatCom for ePayments Company, PayTabs Group, and many more.

This prestigious list showcases the top players in the Fintech industry in the Middle East and highlights the innovative advancements and growth within the sector. It serves as a benchmark for the Fintech market and recognizes companies that are shaping the future of financial technology in the region.