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Significance
These came after leading fintech firm, Fawry, achieved ‘unicorn’ status in August 2020 with a market valuation over USD1bn, and after transportation app Swvl announced plans to list on the Nasdaq. These deals highlight Egypt’s attraction for investors, owing to its large market, strong growth potential and close ties to financial and talent centres in the Gulf.
Impacts
Communications will remain the fastest-growing sector of the Egyptian economy in the coming years.
Investment in upgrading the fixed mobile network is rising, but with input from the military.
Tech-based services catering to women will have a substantial market.
© Oxford Analytica 2021. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2021
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