Sixteen months later, on a hot July day in 2026, Egypt's finance minister, Ahmed Kouchouk, returned to a company whose public frustration had once laid bare the country's industrial bureaucracy.
The Cape Town venture studio is doubling down on its hybrid model, but a high failure rate highlights the structural hurdles of scaling science in Africa.
The Cairo-based fintech continues to tap the debt markets, converting its loan portfolio into fresh capital as it navigates an inflationary macro environment.
ITIDA stepped in to fund a programme that lost its US development finance backing, as 61 startups from Upper Egypt collectively attracted EGP 200 million in investment
Sixteen months later, on a hot July day in 2026, Egypt's finance minister, Ahmed Kouchouk, returned to a company whose public frustration had once laid bare the country's industrial bureaucracy.
The new virtual asset rules demand high capital, local custody, and bank-held reserves - creating a moat that traditional lenders are perfectly positioned to fill.
