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Mobile Wallet Transactions in Egypt Surge by 112% in 2023

The increase is mirrored in a rise in mobile wallet users by 30% by December 2023

Cairo Scene

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.

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