How Egypt’s unique problems open up the doors for its startups: Despite the hurdles digital startups face in Omm El Donia ranging from poor education to a lack of funding, the market here is wide open for digital services startups, simply because the most mundane of tasks in Egypt “like paying bills and getting things fixed could turn into epic affairs,” RiseUp Summit co-founder Con O’Donnell tells Business Monthly’s Edmund Bower. The lack of competing services also means Egypt’s clientele is more forgiving than America’s, where customers will “simply go elsewhere” if they are not entirely satisfied with the service, he added. Which is why services by startups such as Elves, which combines artificial intelligence with human capabilities to field all types of these mundane requests, are taking off.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Can AI promise Egypt’s lenders more borrowers and fewer bad loans?
Banks are cautious about letting AI judge a borrower. Local…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index,…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…