The number of FinTech companies in the MENA region is forecast to grow to 1,845 by 2022
- That amounts to an impressive 230 per cent growth from 559 in 2015.
- FinTech investment in the country is growing at 64 per cent – more than twice the global rate of 26 per cent.
- The mobile payments sector is set to grow in the UAE at a rate of 30 per cent a year.
What does this mean?
Three billion people live in the Middle East, Africa and South Asia (MEASA) region, but almost 50 per cent still have limited or no access to financial services.