Egypt

Amid a concerted government focus on financial inclusion and extensive banking initiatives tailored to citizens of all age groups, the category of pre-paid cards remains on a robust growth trajectory within the Egyptian financial market. The…

Financial cards and payments in Egypt has seen a remarkable year in 2023, characterised by a notable shift from cash to card usage, larger transaction amounts, and a surge in new account openings. Government initiatives to boost financial inclusion…

The Central Bank of Egypt reported a noteworthy 15% overall growth in the total number of electronic cards in Egypt by the end of 2022. Specifically, the number of debit cards in the market witnessed a substantial 12% growth. The government's ongoing…

Amidst the ongoing economic challenges in Egypt, ranging from currency devaluation to inflation and restricted overseas transactions, credit cards have gained substantial traction. The reliance on credit cards is expected to surge further in the…

Consumer credit and lending have experienced substantial growth in the past year. In March 2023, the Central Bank of Egypt reported a significant increase in consumer credit. The rise is attributed to an increase in both local and foreign currency…

Forbes Middle East's recent list of the top 30 fintech companies for 2023 highlighted a strong presence from Egypt. Fawry secured the top spot, boasting an extensive network of 36 member banks, over 280,000 agents, and a user base exceeding 49…

Despite the evolving financial landscape, charge cards retain their status as an unpopular category in Egypt. The demand for charge cards remains stagnant, with no anticipated improvements in terms of popularity, transaction volumes, or market share…