Egypt’s financial inclusion rates have significantly increased, with approximately 52 million citizens now using transaction accounts. The Central Bank of Egypt (CBE) reported that by the end of 2024, 74.8% of Egyptians aged 15 and above had actively used accounts for financial transactions, a significant rise from 70.7% in 2023.
This growth is attributed to the CBE’s efforts in collaboration with the banking sector, ministries, and authorities, focusing on economic empowerment, particularly for women, youth, people with disabilities (PWDs), and entrepreneurs. The inclusion of youth, with an increased age range to 15, contributed to the rise in account openings.
By the end of 2024, 23.3 million women and 39.4 million youth were using transaction accounts, reflecting growth rates of 295% and 65%, respectively. Efforts such as facilitating account openings using only National IDs have resulted in nearly 1 million financial inclusion accounts for individuals and 400,000 “Economic Activity Accounts” from 2022 to 2024.
The growth in financial inclusion is part of Egypt’s broader efforts aligned with the country’s Vision 2030 and Sustainable Development Goals, ensuring that citizens, particularly the excluded segments, have access to high-quality, affordable financial services. The increase in financial inclusion contributes to the economic empowerment of women and youth while improving the livelihoods of Egyptians.
