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Egypt’s financial inclusion rate rises 5.4% in 6 months: CBE

The financial inclusion rate in Egypt increased by 5.4 percent to 67.3 percent during the first six months of 2023, according to a report by CBE.
20.11.23 | Source: Ahram Online

The number of Egyptians (aged 16+) who have accounts in banks, Egypt Post, mobile phone wallets, or prepaid cards increased to 44.6 million by the end of June 2023 from 42.3 million at the end of December 2022, the report showed.

The number of issued prepaid cards rose to 30.3 million in January-June 2023 from 28.6 million at the end of last year.

Meanwhile, mobile wallets rose by 13.15 percent year-to-date (YTD) in June and the number of access points, including branches of financial institutions, ATMs, point-of-sale devices, and payment service providers, surged by 27.11 percent YTD.