Mobile Wallet Transactions in Egypt Surge by 112% in 2023

Mobile wallet transactions in Egypt increased by 112% in 2023, totalling EGP 1.3 trillion, according to data from the Central Bank of Egypt (CBE). The increase paralleled a 30% rise in the number of mobile wallet accounts in the same year, totalling 39.4 million by the end of December 2023.

However, data from CBE indicated a 2.3% decline in the number of microfinance beneficiaries, banked or unbanked, taking that number to 4.6 million.