How is Ahmed Wadi CEO of Money Fellows digitizing Egypt's Money Circles | Couchonomics with Arjun

Is cash still dominant in Egypt? 💸

Ahmed Wadi, Founder and CEO of Money Fellows is our latest guest on the show. Money Fellows is a pioneering startup from Egypt that has digitized the ancient financial concept of ROSCAs, where a group of individuals act as an informal financial institution. In our chat, Ahmed shares insights on Money Fellows' operational strategy, the challenges and opportunities of building a startup in Egypt, and the overall fintech landscape in the country.

Discover how Money Fellows is revolutionizing this millennia-old concept! 💡

#Fintech #Startup #Innovation #MoneyFellows #Egypt #ROSCAs #ChitFunds #FinancialInclusion #P2PLending #Crowdfunding

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Chapters:
00:00 - Episode trailer
01:39 - Introduction
03:18 - Money Fellows concept and origin
09:12 - The journey to digitization
11:58 - Regulation challenges
12:52 - Market dynamics
16:41 - Money Fellows economic model
18:57 - Current and future market landscape
20:38 - Fintech landscape in Egypt
24:46 - Regulatory and ethical standards
26:55 - Diversification
29:45 - Challenges in the Egyptian market
31:15 - The complexity of the product
33:20 - Default rates and guarantees
38:04 - Money Fellows expansion
42:17 - Becoming a digital bank alternative
44:59 - Potential in the SME sector
48:05 - Competition
50:19 - Challenges in new markets
52:33 - Money Fellows current stage
53:37 - Closing words