EGX Chief: FinTech Reshaping Global Economy, Egypt’s Digital Finance Sector Surges

CAIRO – Innovation and financial technology (FinTech) have become among the most influential drivers of the global economy, particularly amid the rapid transformations in international financial markets, according to Dr. Islam Azzam, Chairman of the Egyptian Exchange (EGX).

Azzam made the remarks today during his participation in Ain Shams University’s Faculty of Commerce First International Conference, held under the theme “Innovation and Financial Technology (FinTech).” The event was also attended by Dr. Sherif Farouk, Minister of Supply and Internal Trade, alongside a host of faculty members, experts, and specialists in innovation and financial technology.

Global FinTech Investments Surge Past $200 Billion

During the conference, the EGX Chairman outlined the pivotal role of digital transformation in developing financial markets, enhancing trading efficiency, and expanding the investor base, especially among youth.

Azzam noted that global investments in FinTech companies have exceeded $200 billion in recent years, with annual growth rates ranging from 15% to 20%. This trend, he explained, reflects a structural shift from traditional models to advanced digital solutions.

Locally, Egypt has witnessed remarkable development in its FinTech sector. The number of companies operating in this field has risen to over 170, paralleled by a significant expansion in e-payment applications and digital financial services. These services now cater to tens of millions of users, supporting the state’s efforts to promote financial inclusion and transition towards a digital economy.

Regarding the capital market, Dr. Islam Azzam stated that approximately 250 companies are currently listed on the EGX, distributed across the main market and the SME market. These companies boast a combined market capitalization of nearly 3 trillion Egyptian pounds (approximately $62 billion).

The market achieved growth exceeding 42% in 2025, with a cumulative growth rate of approximately 390% compared to the end of July 2022, underscoring the market’s evolution and its enhanced role in financing economic growth.

Azzam emphasized that FinTech applications have fundamentally transformed the investor structure. The number of new registered traders has risen to approximately 276,000 annually, marking a 20% increase over the previous year. He highlighted that the youth segment accounts for about 79% of total new investors, reflecting the success of efforts to increase financial awareness and attract new segments to the market.