The Central Bank of Egypt reports an increase in financial inclusion as total ownership of transactional accounts reach 64.8 percent of the total 65.4 million eligible adult population at the end of 2022.

Egyptian fintech startup Copal has partnered Mastercard to launch a family payments mobile app that brings all family members onto a unified payment platform that is fully managed by parents.

According to the company MNT-Halan provides small- and micro-business lending, payments, consumer finance and e-commerce.

The Central Bank of Egypt formulated the Financial Inclusion Strategy (2022-2025), with the aim of the promotion of financial inclusion and the achievement of economic growth in Egypt.

Tanmeyah, which was founded in 2009, provides working capital for smaller enterprises and reports having 391,000 clients.

The fund is an implementation of the country’s strategic vision to support young innovators, with Nclude by Global Ventures to focus on accelerating fintech innovation and driving financial inclusion. 

The initiative, known as the Debt Resolution Project, is expected to create a safety net for businesses and investors, improving access to credit, especially for small and medium enterprises.

EasyCash has become the first mobile payment application for Wallet Factory that was made to align with the Egyptian interoperability market standards for QR code-based digital payments and acceptance.

In the frame of this project, AFC, in collaboration with the national statistics office CAPMAS and the Central Bank of Egypt, conducted the first national representative financial inclusion survey in Egypt and build a data set as evidence base and baseline for future monitoring.

The step is part of the Central Bank of Egypt’s (CBE) initiative to promote financial inclusion for farmers, on the occasion of Egyptian Farmer’s Day.