MENA Fintech Sector Set To Reach $2.4B By 2029

by THEFUTURE.TEAM

March 25, 2025

The fintech sector in the MENA region remained a dominant force in 2024, accounting for 30% of total investments. Despite an overall 42% drop in startup funding, MENA’s fintech ecosystem proved resilient, securing $2.3 billion in investments, according to Wamda. The UAE led the region with $1.1 billion across 207 startups, followed by Saudi Arabia ($700 million), Egypt ($334 million), and Oman ($41.5 million).

Key Investment Trends And Funding Breakdown

Fintech not only led in funding but also in deal count, raising $700 million across 119 startups. In Egypt and the UAE, fintech topped the funding charts, while in Saudi Arabia, software-as-a-service (SaaS) secured the largest share. Investor interest varied by country, with fintech leading in the UAE ($265 million for 47 deals), Web 3.0 second ($255 million), and proptech third ($197 million). In Saudi Arabia, SaaS attracted $177 million, followed by fintech at $171 million. Egypt’s fintech sector secured $237 million, fueled by the country’s large, underserved population of 112 million people. The late 2024 launch of Apple Pay and Google Pay further accelerated digital payment adoption in Egypt.

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Government Support And Regulatory Growth

Regulatory support has been crucial in fostering fintech growth across the region. A Visa report noted that 71% of fintech firms in the GCC and Levant credit government initiatives, including regulatory sandboxes, financial inclusion programs, and investments in digital infrastructure.

AI And Future Growth Areas

AI is becoming an increasingly critical component, with 73% of fintech companies considering it essential for future development. Payments remain the most promising segment, followed by Buy Now, Pay Later (BNPL), AI, Web3, stablecoins, CBDCs, crypto, and open banking.

Funding Highlights And Projections

Notable funding rounds in 2024 include Egypt’s MNT-Halan securing $157.5 million, Saudi Arabia’s Lean Technologies raising $67.5 million, and the UAE’s CredibleX securing $55 million in seed funding. Additionally, Tabby raised $160 million in February 2025, bringing its valuation to $3.3 billion.

Looking ahead, MENA’s fintech funding is projected to reach $2.4 billion by 2029, with the UAE, Saudi Arabia, Bahrain, and Egypt leading the charge. Regional growth is a top priority, with 90% of fintech firms targeting the UAE and Saudi Arabia due to their large market sizes, favorable regulations, and funding support.

With continued regulatory reforms, investment, and cross-border expansion, MENA’s fintech sector is poised to redefine the global financial landscape, becoming a leader in innovation and digital finance.

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Cyta Plans €70 Million Investment Budget For 2027, Including Renewable Energy Expansion

by THEFUTURE.TEAM

November 2, 2026

Cyprus telecommunications provider Cyta has budgeted €70 million for investments in 2027, with funding earmarked for a new data center and an initial move into renewable energy. The investment budget is 75% higher than the €40 million allocated for 2026.

According to an explanatory note accompanying the budget submitted to Parliament, the funds will support subsidiaries responsible for delivering two major projects. The budget does not specify how much will go toward each project.

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A New Data Center And A Renewable Energy Business

The first project is a new data center, which Cyta expects to complete over two years. The organization says the facility will serve its customers, Cyprus-based businesses, government and other public-sector bodies, as well as customers abroad.

The second project involves renewable energy. Cyta plans to enter the energy market commercially, including by meeting the power needs of its new data center. The budget provides no further details about the scale or structure of the energy investment.

Parliament cleared the way for Cyta to operate in the energy sector last March, approving legislation that allows the organization to participate through renewable energy sources. An amendment passed by a majority bars it from investing in conventional fuels. The move was opposed by the Electricity Authority of Cyprus, or EAC.

Cyta has said it intends to focus on consumers who cannot readily access renewable energy themselves. Its target groups include young couples renting homes, apartment residents and small businesses that lack suitable space to install their own solar panels.

Pension Fund Deficit Continues To Grow

The budget also highlights a widening actuarial deficit in Cyta’s employee pension scheme. A recent actuarial study put the funding shortfall at €211.56 million as of December 31, 2025, up from €140.07 million a year earlier and €85.59 million at the end of 2023.

In response, Cyta’s board increased the annual contribution rate to 4.6%, from 3.9%, and approved a schedule of payments intended to clear the deficit over eight years. The organization will pay €30 million this year, followed by €23 million in 2027 and €25 million in 2028.

From 2029 through 2032, annual payments are set at €33.391 million. A final payment of €29.54 million is scheduled for 2033.

Revenue And Surplus Forecast To Rise

Cyta’s 2027 budget forecasts a pre-tax surplus of €40.09 million and a post-tax surplus of €34.92 million. The projected pre-tax surplus is 14.85% higher than in 2026, an increase of €5.2 million.

Revenue is forecast to reach €478.48 million in 2027, up 6.2% from €450.57 million in 2026. Budgeted expenses are €438.39 million, compared with €415.67 million this year.

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