How Balad connects global remittances to home

Egypt’s remittance boom is creating a much bigger window for the companies building the infrastructure behind it. Balad

And Balad now has a heavyweight financial services player behind it:

DATA POINT- USD 43.1 bn USD 41.5 bn

Azzam puts that down partly to Egyptians’ ties to home.

Balad is trying to make moving those smaller amounts cheaper and easier.

Balad sits between remittance companies abroad and Egypt’s financial system.

The company is now scaling that model.

EFG Finance gives Balad a larger financial services ecosystem to build alongside.

But Azzam sees much bigger room for Egypt’s remittance market over the longer term.

India offers a glimpse of how much further that relationship could go.

That could mean building a ladder from remittances into investment.

But Egypt still has to compete for that money.

More partnerships are coming:

For Azzam, growing the formal market is the bigger reward.