African Fintechs Are Making the Gulf Their Next Big Move
- Egypt’s MNT-Halan has entered the UAE market with salary-financing products.
- Paymob now holds a full UAE Central Bank licence and operates across the Emirates, Saudi Arabia, and Oman.
- Nigeria’s Innovate1Pay has been running its global operations from Dubai’s Jumeirah district since 2019.
The shift of African fintech companies to Dubai represents a significant opportunity for both regions, fostering innovation and financial inclusion. However, the reliance on remittances and the need for cheaper transfer methods highlight ongoing challenges that need to be addressed for sustainable growth.
