Author: Follow Team

MNT-Halan, the region’s leading fintech company, has received approval from the Financial Regulatory Authority (FRA) to implement in Egypt electronic Know Your Customer This marks a significant leap forward in Egypt’s fintech sector, delivering a seamless digital experience. By eliminating friction and traditional paperwork, e-KYC enables a fully digital onboarding experience, allowing users to open and activate their accounts in minutes and gain instant access to credit limits and investment opportunities anytime, anywhere. Mounir Nakhla, Founder & CEO of MNT-Halan, stated: “FRA’s approval of e-KYC marks a major step forward in our journey to simplify finance. This will unlock access…

As Egypt positions itself for economic expansion in the coming years, the real estate sector is set to play a pivotal role, contributing significantly to the GDP. The market is increasingly adopting innovative marketing and operational models centered around real estate technology, commonly referred to as PropTech. This shift aims to enhance sales processes, provide effective solutions for property booking and rental, and tackle challenges posed by inflation and currency fluctuations. Launching the Egyptian Real Estate Platform A major milestone in this transformation is the recent pilot launch of the Egyptian Real Estate Platform, supported by the Multiple Listing Service…

The rapid development in information and communication technology worldwide has led to the emergence of many innovative financial and banking solutions that significantly increase the efficiency of financial services and expand their reach, thereby having a positive impact on the national economy and society at large. Innovative fintech has become one of the most promising industries globally, thanks to its ability to leverage modern technological mechanisms and techniques to expand the scope of financial and banking services and products. The value of the fintech market in the Middle East and North Africa (MENA) is estimated at worth approximately $1.36 billion…

Huawei, a leading global provider of information and communications technology (ICT) infrastructure, has announced the signing of a cooperation agreement with Telecom Egypt – WE. The agreement aims to equip Telecom Egypt’s network with advanced technological solutions in preparation for the launch of 5G services in Egypt, ensuring high-quality broadband for users. With this collaboration, Telecom Egypt becomes the first operator in Egypt and Northern Africa to deploy innovative outdoor and indoor solutions, including BladeAAU technology with high-bandwidth Massive MIMO (Multiple Input Multiple Output) technology & DIS 5G Solution with the new (pRRU) Pico Radio for indoor solution supporting multiband.…

The Egyptian government is navigating a path toward becoming a hub for high-value technology exports. This transformation is rooted in a comprehensive vision and technical readiness that adapts to global changes, leveraging the capabilities of local companies, fostering human resources, attracting foreign direct investments, and enhancing Egypt’s position in the global outsourcing landscape. Recent Developments and Investments Openings of international companies in Egypt underscore this promising trajectory. These companies operate in research and development, electronic design, software, and other critical areas, forming a cornerstone of the Ministry of Communications and Information Technology’s strategy to expand into foreign markets and systematically…

Egypt aspires restoring its real GDP growth (economic growth) levels of 2019, when it registered 5.6% that made her the fastest growing economy in the region. In this infographic, FollowICT showcases the latest forecasts for the Egyptian economic growth during the current FY2024/2025, which end at end of June 2025, and the upcoming FY2025/2026, which ends at end of June 2026. These are the expectations of four of the largest international financial institutions and development banks; the International Monetary Fund (IMF), The World Bank (WB), the European Bank for Reconstruction and Development (EBRD), and the African Development Bank (AfDB). These…

Cairo-based Intlaq, a think tank focuses on reshaping the entrepreneurial landscape in local market, in collaboration with the Dutch Enterprise Agency (RVO) and the Dutch Embassy in Egypt, announced on Wednesday the launch of a comprehensive data-driven report that presents the evolving landscape of the financial technology (Fintech) sector in the country. The report offers a strategic view of the sector, analyzing its growth potential, key market trends, challenges, and opportunities available for both local and international investors. In the following lines, FollowICT summerize the key figures the report includes that indicate the Fintech Landscape in the country, and recommendations…

From FBC to Hoogpool: How Egypt’s Digital Gold Rush Became a Trap for the Gullible. As Ponzi Schemes Resurface in New Tech Wrappers, Dreams of Quick Riches Turn into Financial Ruin—and Experts Warn: ‘This Won’t Be the Last.’ Recently, the digital space has become fertile ground for scamming citizens in various ways. Dozens of illegitimate platforms have emerged, preying on the dreams of ordinary people with promises of quick wealth and lucrative returns. It’s a recurring story, filled with scenes that leave people puzzled and questioning why citizens keep falling into these traps. One of the latest cases involves FBC,…

Egypt’s banking sector is undergoing a digital revolution, with banks and the Central Bank of Egypt (CBE) working together to modernize services, enhance financial inclusion, and prepare for a fully digital future. The Egyptian banks are fully relying on electronic services that eliminate the need for customers to visit bank branches. At the forefront of these services are internet and mobile banking, as well as mobile wallets, which have undoubtedly revolutionized the Egyptian banking sector in recent years. This massive shift toward digitization in the banking sector, supported and guided by the CBE, has significantly boosted banks’ performance in 2024,…

The Information and Communications Technology (ICT) market in Egypt is expected to reach $45.18 billion by 2029, reflecting the significant growth in the technology sector and the country’s ongoing digital transformation, according to recent data released by the Information Technology Industry Development Agency (ITIDA). This growth is also driven by increased investments in digital infrastructure and technology services. According to forecasts, software development jobs dominate Egypt’s tech job market, accounting for 58% of all job openings. This is followed by IT management and artificial intelligence/data analysis jobs, each representing 9%, while IT infrastructure jobs make up 7.5%. Information security jobs…