The new licensing regulations stipulate that digital banks must maintain a minimum issued and paid-up capital of EGP 2 billion ($65 million), the CBE explained
MENA’s ecommerce market was valued at $37 billion, with the report predicting that it will exceed $57 billion by 2026
Egypt’s information and communications technology (ICT) sector saw a growth rate of 16.7% in FY 2021/2022, MCIT minister Talaat added
Global tech company Google’s impact on the Egyptian economy is estimated to be around EGP 11.2 billion in 2021
The move will be a part of the government’s push in attracting private capital and investments, as well as drive further growth into the local tech industry
