These transactional accounts include bank accounts, Egypt Post accounts, mobile wallets, and prepaid cards.

As of June 2024, the financial inclusion rate for this group has reached 71.5 percent.

This impressive growth was driven by collaborative efforts from all relevant stakeholders, alongside partnerships with ministries and government authorities.

It was also supported by a favourable regulatory framework, participation in various projects, the availability of tailored financial products, and widespread financial literacy initiatives. 

The report highlighted the CBE's role in facilitating the opening of 7.5 million bank accounts, introducing 2.5 million mobile wallets, and distributing 7.5 million prepaid cards as part of its financial literacy and awareness initiatives between April 2017 and September 2024.

These initiatives included 584,330 financial awareness session beneficiaries, 22,943 financial literacy booklets, 7,455 mobile awareness campaigns, and financial training for 10,388 students through simulators.

Hayah Karima impact
 

Since July 2021, banks in Egypt have participated in the first phase of the presidential initiative "Decent Life" (Hayah Karima), under the auspices of the CBE.

The initiative aimed at improving services and enhancing citizens' living standards in 20 governorates, 52 rural centres, and 1,667 villages. 

From July 2021 to June 2024, the initiative has established 17 new bank branches, created 651,900 new bank accounts, installed 1,254 ATMs, and introduced 8,300 QR codes and POS (Point of Sale) systems. 

Additionally, it has enabled 159,600 internet banking services, launched 78,600 mobile wallets, and issued 993,000 prepaid Meeza cards. It has also allocated EGP 43.5 billion to fund small- and micro-developmental projects benefiting 295,600 individuals.

Moreover, the CBE has organized 5,853 educational sessions for individuals and craftsmen, and 54 financial literacy roadshows to improve economic awareness and financial skills.

Support for MSMEs
 

The CBE’s initiatives have significantly boosted financing for micro, small, and medium-sized enterprises (MSMEs), which play a critical role in economic development, job creation, and reducing unemployment, particularly among women and youth.

Facilities allocated to MSMEs have grown by 388 percent between December 2015 and June 2024.

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From December 2020 to June 2024, funding for the industrial sector rose by 61 percent, while the growth in facilities for the Delta and Upper Egypt regions reached 72 percent and 59 percent, respectively.

Due to the CBE’s efforts, microfinance portfolios in both the banking and non-banking sectors saw exceptional growth. They have exceeded 1350 percent from December 2016 to June 2024, reaching EGP 93.2 billion, up from EGP 6.4 billion.

The number of beneficiaries also increased from two million in December 2016 to 4.6 million by mid-2024.

Women empowerment
 

As part of its efforts to achieve economic and social empowerment for women, a key priority target segment, the CBE is dedicated to supporting the expansion of the digital saving and lending groups project.

It works on this in collaboration with the National Council for Women (NCW) and the Agricultural Bank of Egypt.

This initiative aims to promote financial inclusion, encourage saving, and raise awareness about the benefits of using FinTech applications in savings and lending practices.

The CBE reported that the number of women with transactional accounts reached 20.8 million in June 2024, up from 20.3 million in December 2023.

Since 2016, the number of financially included women has risen by 252 percent, reflecting steady growth in their financial inclusion, it added.