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
Jul 09, 2024
![Mobile Wallet Transactions in Egypt Surge by 112% in 2023](https://scenenow.com/Content/Admin/Uploads/Articles/ArticlesMainPhoto/65226/4cb5617b-4fce-4c46-af74-2504a7a8ecf8.jpg)
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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