Egypt cuts capital requirement for non-bank fintechs

Egypt’s Financial Regulatory Authority (FRA) has reduced the minimum capital requirement for fintech startups operating in non-bank financing activities from EGP 75 million to EGP 15 million.

This new regulation aims to ease the establishment and licensing of financial technology companies.

The FRA’s updated guidelines specify that the minimum capital requirement for non-bank financing activities, excluding real estate financing, is now EGP 15 million.

In contrast, the minimum capital for real estate financing companies remains at EGP 100 million. This adjustment is expected to encourage the growth of the fintech sector by making it more accessible to new startups.