Mobile wallet transactions in Egypt surge 112% YoY in 2023: CBE

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This increase paralleled a 30% rise in the number of mobile wallet accounts, totaling 39.4 million at the end of December

Staff Writer, Arab Finance

July 8, 2024

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Mobile wallet transactions in Egypt soared by 112% in 2023, reaching EGP 1.3 trillion, Asharq Business reported, citing data from the Central Bank of Egypt (CBE).

This increase paralleled a 30% rise in the number of mobile wallet accounts, totaling 39.4 million at the end of December.

On the other hand, data from the CBE indicated a 2.3% decline in the number of microfinance beneficiaries, both banked and unbanked, in 2023, reaching 4.6 million.

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