Ramses, an American Fintech startup, revealed its strategy for the upcoming period.
The Company aims to establish its business model in Egypt and Sudan in 2024, while also focusing on expansion and entering new markets across Africa and the Middle East in 2025.
Additionally, Ramses announced that Chris Skinner has joined as a founding partner. This significant announcement was made during a press conference held at the Greek Campus (GC) in Cairo, coinciding with the launch of Chris Skinner’s latest book, “Intelligent Money.”
Ramses has set its sights on expanding its business in the upcoming period as a leading provider of banking technology solutions and services. It’s expected to lead the growth of the Fintech sector in both the region and Africa. Through its diverse portfolio of technological solutions and services, the Company strives to simplify and streamline financing processes. Ramses is dedicated to offering innovative solutions that create a more convenient and secure financial system, empowering individuals and businesses to effectively manage their finances.
Chris Skinner, Ramses co-founder, affirmed that Egypt serves as an exemplary model for the major African and Middle Eastern markets. This is attributed to various factors such as its expansive size, advanced level of economic development, diverse languages and religions, as well as its rich cultural heritage. Skinner further emphasized his deep admiration for the growth and potential of the Egyptian technology market. It was his positive perception of the Egyptian market that ultimately influenced his decision to join Ramses as a co-founder.
According to the most recent statistics from the World Bank, it is revealed that 50 per cent of the population in the MENA region does not engage in banking services. This presents a significant opportunity for Fintech companies to cater to the needs of this large segment of the population who do not utilize traditional payment methods. Furthermore, reports suggest that the Fintech sector in the Middle East and Africa is poised for substantial growth in the upcoming years, with estimates projecting it to reach a value of $3.45 billion by 2026.
Chris added:
“The future of the Fintech sector in Egypt presents numerous opportunities rather than challenges, as Egypt serves as a gateway for expansion into other markets, both within Africa and the Middle East. The Company is already involved in collaborations with eight Egyptian companies in the field of financial technology, even prior to its official launch. Additionally, the Company has established partnerships with 28 companies outside of Egypt, specializing in financial technology and digital banking solutions, spanning across Africa and the Arab Gulf countries.
Chris Skinner has authored a remarkable collection of eighteen highly acclaimed books in the realm of finance and technology. His extensive best-selling books in this realm include renowned titles such as the “Digital Bank,” “Digital Human,” “Doing Digital,” and “Digital for Good” series.
