Significant increase in mobile wallet usage in Egypt during 2024
The Central Bank of Egypt has announced a notable increase in the number of mobile wallets within the country, with the total number of wallets reaching 61.5 million. This figure reflects the significant development in the reliance on financial technology for citizens' daily transactions.
The report indicated that the volume of financial transactions conducted through these wallets reached 2.2 trillion Egyptian pounds. These figures point to the growing public confidence in digital services and the ease of using mobile applications for paying bills and transferring money.
This increase is a result of the state's efforts to support digital transformation and simplify the procedures for citizens to open electronic wallets. These steps aim to reduce reliance on cash and encourage individuals to use modern and secure financial solutions.
These developments contribute to enhancing financial inclusion in Egypt, as millions of people can now easily access banking services through their smartphones. It is expected that these figures will continue to rise with the increase in digital awareness and the development of telecommunications infrastructure across various governorates.