Egypt - Financial inclusion rates in Egypt increased by 181% during the period from December 2016 to June 2024, according to a statement by the Central Bank of Egypt (CBE).

This increase was driven by the CBE’s efforts, in cooperation with the banking sector.

The number of citizens with financial transaction accounts rose to 48.1 million out of a total of 67.3 million citizens aged 16 and above.

These accounts include ones opened at banks, Egypt Posts, mobile phone wallets, or prepaid cards.

In June 2024 alone, the financial inclusion rate stood at 71.5%.

The volume of financing granted to micro, small, and medium-sized enterprises (MSMEs), especially for women and youth, jumped by 388% during the period from December 2015 to June 2024, while financing directed to the industrial sector increased by 61%.

Additionally, financings directed to these projects grew to 72% in the Delta governorates and to 59% in the Upper Egypt governorates from December 2020 to June 2024.

The microfinance portfolio in the banking and non-banking sectors witnessed a significant growth exceeding 1,350%, driven by the initiatives and measures taken by the CBE.

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