PAYFORT, a payment service provider in the Arab world, and Wamda, an entrepreneurship platform in MENA, will publish the first fintech research report on the Middle East and North Africa (MENA).
The State of Fintech report will offer data and insights on one the region’s startup sectors and will answer questions about the opportunities and challenges facing the region’s home-grown fintech industry.
State of Fintech will address topics of relevance to entrepreneurs, investors, policymakers, large corporations, the financial sector and the general public. It aims to identify the key drivers and barriers for the new fintech industry in the region, offer insights on what solutions fintech startups are providing and what investors and policymakers need to consider now in order to unleash fintech’s potential.
Ecommerce is set to quadruple in the next 5 years and, with fintech playing an integral role in this growth, it is forecasted that it will gross USD 20 billion by 2020. The region has seen a rise in fintech investments from 2015 to 2016 – a 43% in terms of deal flow and an almost 100% increase in deal size.
Wamda is a platform of integrated programmes that aims to accelerate entrepreneurship ecosystems throughout the MENA region. Its core focus includes media, community development, research and corporate and government advisory services.
The Wamda Research Lab (WRL) is Wamda’s research programme that produces studies on entrepreneurship in MENA and seeks to foster thought leadership in this field. WRL’s agenda is to inform investors, policymakers, and other stakeholders on the challenges faced by entrepreneurs in the MENA region, and offer potential solutions for overcoming them.
PAYFORT offers e-payment solutions to small and medium enterprise (SME) or startup’s e-payment needs.
The State of Fintech report will consist of six sections, including case studies and recommendations for the future development of the fintech ecosystem. The report will share findings from research into MENA fintech startups, opinion surveys of bank customers and interviews with industry leaders and subject matter experts.