The number is expected to reach 250 emerging companies in the FinTech field by 2020. Omar Soudoi, managing director at PAYFORT, said that the report showed that the FinTech sector will continue to grow fast in the region. According to the report, emerging companies working in the field of financial technology have spread in 12 countries in the Middle East. Statistics show that three out of four emerging companies choose Egypt, Jordan, Lebanon, or the United Arab Emirates (UAE) as their base country. The report expects the volume of investments in emerging companies in the field of technology to reach EGP 50m in 2017.

Source: Daily News Egypt March 22, 2017 07:30 UTC