From cross-border payments to wealth creation
Fintech companies such as Rimmit and Menthum are addressing structural gaps in the financial system, helping to unlock the spending power of millions of under-served Egyptians.
Egypt's financial services sector is experiencing a major shift. Digital adoption, regulatory changes and a national push for financial inclusion have transformed fintech from a niche market to a dynamic part of the economy. While digital payments and mobile wallets have received much attention, new companies are tackling deeper systemic issues in the financial system.
These businesses are enabling cross-border remittances and making savings and investment products more accessible. Ismail Sarhank, co-founder of Menthum and deputy CEO of Rimmit, serves as a key figure in this transformation. Remittances are a crucial part of Egypt's economy, with an estimated 14 million Egyptians living abroad sending money home.
In 2025, remittance inflows reached approximately $41.5 billion, a record high. Rimmit, a leading remittance provider, aims to make cross-border money movement seamless, secure and accessible for Egyptians and expats, both at home and abroad. The company has over 177 branches across 22 governorates, complemented by 138 partner bank branches.
While digital transformation is important, Sarhank emphasizes that physical access points are still valued in many communities. Menthum, on the other hand, focuses on expanding access to savings and investment products through a digital-first platform. Founded with the vision to democratise wealth-building opportunities, the company aims to make financial growth accessible to a wider segment of society, particularly younger generations and first-time investors.
Written by urgent.news from Africa Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
