Banknbox Egypt Becomes the First Egyptian Banking and Payments Technology Company to Receive the “Startup Label”

Cairo – Monday, May 17, 2026 — Banknbox announced that it has officially received the prestigious “Startup Label” certification, becoming the first Egyptian company specializing in banking technology and electronic payment infrastructure to obtain this recognition. The achievement reflects the rapid growth of Egypt’s fintech sector and the strong support provided by the government for startups and digital innovation.

The announcement was made during an official ceremony attended by Dr. Hussein Eissa, Deputy Prime Minister, Dr. Ahmed Rostom, Minister of Planning and Economic Development, and Eng. Basel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA). The certificate was received by Eng. Bassem Mahmoud, Co-Founder and CEO of Banknbox.

Receiving the “Startup Label” grants Banknbox access to a wide range of benefits and facilitations over the next three years, including tax incentives, licensing support, and investment and expansion advantages. These incentives are expected to strengthen the company’s ability to scale both locally and regionally.

The recognition also reflects the continued support provided to the fintech sector by the Central Bank of Egypt and various regulatory authorities. The certification is expected to enhance coordination and collaboration with governmental institutions while facilitating expansion initiatives, strategic partnerships, and support procedures that align with the company’s vision of delivering advanced banking and technology solutions across Egypt and regional markets.

Commenting on the achievement, Eng. Bassem Mahmoud stated:

“This milestone represents an important step in our journey and reflects the growing confidence in the capabilities of Egyptian fintech companies. At Banknbox, we are committed to supporting the country’s financial inclusion goals by providing advanced banking solutions, services, and infrastructure to banks and enterprises.”

He added that the company is also focused on positioning Egypt as a regional hub for exporting banking and technology services and systems, which remains a key pillar of Banknbox’s strategy. This vision is supported by the company’s successful partnerships with banks and financial institutions across more than 12 countries over the past period.

Eng. Mahmoud further highlighted that Egypt’s growing support for entrepreneurship and the digital economy is creating stronger opportunities for startup growth and fostering a more competitive investment environment. He emphasized that the company’s next phase will include further regional expansion and continued innovation.

He concluded by affirming that the future of financial technology in Egypt is highly promising, and that collaboration between the public and private sectors remains essential to building a strong digital economy capable of competing both regionally and internationally.