Published date : 20 July 2022

Ranking of MENA Countries Based on Total Addressable Market for Fintech

The diagram above illustrates all 19 MENA markets in ranking order of “Size of Fintech Opportunity”, which is in effect, each market’s Total Addressable Market Size for Fintech. In first place is Egypt, which is the most promising and lucrative Fintech market, and in last place is Libya, which is the least attractive Fintech market.

Interestingly, the top 5 markets remain consistent regardless of using smartphone or internet penetration rates: Egypt, Iran, Saudi Arabia, Morocco and Algeria – which consistently come up with the largest consumer populations for fintech adoption. The graph also highlights the 5 markets which consistently come up as the most difficult markets to do business in and have the most fragile states – Yemen, Libya, Syria, Iraq and Algeria – which can and should also feed into conversations between go-to-market implementers, growth analysts, investors and fintech entrepreneurs

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