Money Fellows reports over 9 million users and EGP 150 billion ROSCAs

Money Fellows has reported that the total value of rotating savings and credit associations managed through its platform has exceeded EGP 150 billion. Ahmed Wadi, founder and CEO, shared the figures during a session at Egypt Forum 2026, noting a customer base of more than 9 million users, of whom more than 1.2 million are active. Wadi spoke in the “Entrepreneurs’ Pitches: From Idea to Growth” session held under the auspices of President Abdel Fattah El-Sisi from 19 to 24 October 2026. He described the company as having modernized the traditional ROSCA model by organizing participation and making it accessible across different income levels. The company has attracted more than $60 million in investment from sovereign wealth funds and international investors, according to Wadi. Egypt’s savings rate stands at less than 10% of income, Wadi said, compared with approximately 28% in Morocco and 30% in India. He presented the gap as room for products that help individuals manage savings. Money Fellows spent roughly four years operating inside the regulatory sandbox for financial technology applications. Wadi said the next stage requires a move to a full licensing framework to support further expansion and additional capital. The company has not stated when it expects that transition to occur. The company has not published a breakdown of the EGP 150 billion figure by year or by average contribution size. It has also not disclosed the share of the 9 million users who have completed a full ROSCA cycle or the default rate among active participants. Those details would show the scale of funds in circulation versus registered accounts. Wadi noted that when Money Fellows was founded there was no clear regulatory framework for the model, and that the sandbox allowed the company to test and refine its approach under supervision. For users the practical change is the ability to join organized ROSCAs through a digital platform rather than informal arrangements. The value depends on whether participation leads to completed cycles and whether the platform reduces friction relative to traditional groups. The company has not published completion rates or the average time taken for a user to receive their payout. It has also not disclosed the fees charged to participants or the share of revenue derived from those fees versus other sources. Other savings products available in Egypt include bank deposits, mutual funds and informal ROSCAs. Money Fellows positions its product as a digitized version of an existing cultural practice. The company has not published a comparison of participation rates or retention between its platform and traditional ROSCAs. Minister of Investment and Foreign Trade Mohamed Farid Saleh, speaking at the same forum, said sandboxes exist for models that lack clear rules and that Money Fellows’ experience shows how such mechanisms can help companies move toward a permanent framework. Dr Amr El-Abd, the prime minister’s adviser for entrepreneurship, noted that digital infrastructure supports the ability of startups to expand into Arab and African markets. The announcement does not list the countries outside Egypt in which Money Fellows currently operates or the share of the $60 million that has been drawn down versus remaining available. Those details would show the geographic reach and the capital still available for expansion. Wadi advised aspiring founders that identifying a clear problem and building a practical model around it matters more than focusing only on financial returns, and that failure forms part of the learning process. He also said technological progress and greater public familiarity with digital services had supported the company’s growth. If Money Fellows publishes the share of active users who complete full cycles, the average contribution size behind the EGP 150 billion total, and the timeline for moving from the sandbox to a full license, the figures have a measurable follow-through. If the next update is only a restatement of the headline totals, the change for users remains the same as the numbers already disclosed. The figures missing are completion rates and the regulatory timeline.