By Lucidity Insights Research Team • April 13, 2024
How Egyptian Unicorns Are Instrumental to the Country's Economic Growth
Egypt's economy is pivoting from traditional sectors like agriculture and tourism to technology and digital businesses. This transition, crucial for meeting the employment preferences of the country's youth, is fostering opportunities in tech, particularly in fintech and financial inclusion. As of Q2 2024, Egypt has emerged as a leading hub for unicorns in Africa, second only to Nigeria, with companies like Fawry, MNT-Halan, and Swvl at the forefront. These three unicorns are crucial in driving economic growth and digital transformation, aligning with Egypt's strategic goals for 2030. Dive deeper into this transformation in our detailed video
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Investing in Egypt’s Startup Ecosystem
Micro, Small and Medium Enterprises contribute over 40% to Egypt’s economy, and account for over 75% of the country’s total employment. Entrepreneurship is critical to Egypt’s future. Today, Egypt consistently ranks as a top 3 tech startup ecosystem in both the MENA and Africa regions, based on funds raised by local startups. In this special report, we speak to the most active investors in Egypt and cover some of the country’s most successful startups to give you an inside scoop on how they are navigating the current VC winter, inflationary pressures and currency devaluation woes.
Other Videos
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Egypt's startup ecosystem ranks 3rd in MENA, driven by young talent, fintech innovation, and Vision 2030, despite current economic challenges.
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Discover the top investors fueling Egypt's vibrant startup scene. With over 160 VC firms and $2 billion in deals, explore the key players driving entrepreneurial success in Egypt.
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Egypt’s currency crisis is impacting its thriving tech startup scene. Watch this video to explore the effects on Egypt's Startup Ecosystem.
