Standard Chartered’s innovation and venture-building arm SC Ventures is preparing to expand into Egypt after establishing its regional presence in the UAE and Saudi Arabia, with the country emerging as its next target market, according to Mohamed Fairooz, the Middle Easat Lead SC Ventures Middle East.
In an interview with Al-Ahram Weekly, Fairooz said Egypt’s large population, growing digital economy, strong talent pool and government-backed economic transformation agenda make it one of the most attractive markets for venture building and fintech innovation in the region.
SC Ventures is the venture-building, fintech investment, and innovation arm of the UK-based Standard Chartered bank, established in 2018 to create and scale new financial technology businesses outside the traditional banking structure.
“We’ve been having conversations with our clients and partners in the country over the past year to explore what themes are most relevant for the market,” Fairooz said. “We are always aligned with the strategic vision of the country and the government’s economic vision, and we want to make sure that whatever businesses we build are commercial and sustainable.”
Since its launch, the venture-building platform has created more than 33 ventures focused on three core themes: digital banking and online economies, small and medium-sized industries (SME) and trade solutions, and digital assets.
According to Fairooz, SC Ventures entered the Middle East two years ago through the UAE and currently operates around 10 ventures serving the wider region. Some are wholly owned by Standard Chartered, while others have been developed through joint ventures with strategic partners.
Fairooz identified digital banking as one of the most compelling opportunities in Egypt, citing the country’s ongoing transition towards more digitised financial services and transaction platforms. “Egypt is going through a transformational phase from traditional ways of doing things to more digitised and transaction-focused platforms,” he said.
He noted that SC Ventures has already built two successful digital banks in Asia and believes the experience, infrastructure, and governance frameworks developed through those ventures can be adapted to Egypt’s market needs.
According to Fairooz, the growing demand for digital services among younger generations is forcing banks, financial institutions, and corporates to accelerate their digital transformation efforts.
“If institutions do not create a digital environment for their clients, they risk losing customers to competitors that can offer faster, cheaper and better customer experiences,” he said.
SMEs represent another major area of interest for SC Ventures. In Egypt, SMEs account for around 98 per cent of Egypt’s private-sector, according to a report released by the e-payment solutions provider Visa.
Fairooz told the Weekly that the challenge for this sector extends beyond access to finance. “It is about supporting businesses to grow,” he said.
SC Ventures has developed a B2B (business to business) e-commerce platform in India and is currently building a similar platform in the UAE focused on SMEs. The model, he said, could be highly relevant for Egypt, particularly in supporting cross-border trade between Egypt and Gulf Cooperation Council (GCC) countries.
“There is still a need to digitise, accelerate, and support Egypt-GCC trade and SME activity,” Fairooz told the Weekly.
Financial inclusion is another area where SC Ventures sees significant potential in Egypt. Fairooz pointed to opportunities related to remittances, salary transfers, savings products, and services targeting underbanked populations.
He said the company has already developed successful solutions in the UAE focused on serving mass-market customers through salary support services, domestic and cross-border remittances, savings products and microfinance offerings.
Such solutions, he added, could help expand access to formal financial services while supporting government efforts to reduce cash transactions and combat financial crime.
While SC Ventures has not yet established an office in Egypt, Fairooz said the company is actively exploring opportunities and has already entered advanced discussions with potential partners.
“The decision has been made internally. Egypt is part of our strategy, and it is on the map,” he said. According to Fairooz, the timing of a physical presence will depend less will depend on commercial opportunities”.
What makes Egypt particularly attractive, he added, is the market’s collaborative mindset. “There is an eagerness among people to do more, collaborate, and work together to identify business opportunities,” he said.
He also described Egypt as an increasingly important regional hub for technology and support services, noting that many international banks, technology firms, and multinational companies have established operations in the country to leverage local talent.
At the policy level, Fairooz praised the government’s efforts to support innovation and digital transformation through ongoing engagement with businesses, regulators and private-sector stakeholders.
“Support from the government and regulators is critical. Without it, many of these opportunities would be difficult to realise,” he said.
Looking ahead, Fairooz said SC Ventures aims to build on its eight years of venture-building experience by sharing lessons learned with innovation hubs, startups, and ecosystem partners. The company is seeking to expand partnerships with innovation centres and continue investing in promising businesses where it can add strategic value beyond capital.
“We’ve learned a lot, we’ve failed a lot, and we want to share that experience with partners to help create sustainable businesses,” he said.
* A version of this article appears in print in the 18 June, 2026 edition of Al-Ahram Weekly.
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