While living in Germany, he faced challenges accessing credit. To overcome this hurdle, he developed a tech platform that helps users save money toward their personal goals.

Ahmed Wadi is an Egyptian computer scientist and entrepreneur, serving as the founder and CEO of Money Fellows. His mission is to enhance financial inclusion in Africa by providing interest-free credit and savings solutions. Established in 2016, this fintech startup offers a more accessible and affordable alternative to traditional banking services.

“I got the Money Fellows idea in 2016 while I was in Germany trying to save money and access credit. It wasn’t easy because I wasn’t born in Germany, and I had difficulty finding ROSCAs (Rotating Savings and Credit Associations). This prompted me to think: why not modernize and digitize this age-old savings model and give people worldwide the opportunity to participate in ROSCAs together?” Wadi explained in 2022.

The platform enables users to join savings circles, maximizing their savings returns. Users can tailor their plans by setting specific goals, desired amounts, and payment methods. Contributions range from $5 to $400, with savings plans available for six, ten, or twelve months. To date, over 4 million people have utilized the platform. As of July 2024, the startup is preparing to expand into Morocco.

Prior to founding Money Fellows, Wadi launched Objectly in 2005, a software solution for tracking objects using IP cameras. Until 2006, he worked closely with Microsoft’s innovation center in Cairo to refine his algorithms.

Wadi graduated from the University of Stuttgart in 2009 with a bachelor's degree in computer science. He also holds a master's degree in information technology from the Technical University of Munich, which he earned in 2014. Following his studies, he began his career as a developer at the National Bank of Kuwait in 2009. In 2010, he joined Magneti Marelli, an automotive supplier, as a software engineer. From 2011 to 2013, he worked as a software developer at Alpine Electronics R&D Europe in Germany.

Melchior Koba