Egypt Financial Services Industry Market Report (Fintech)
- The Trade Adviser
- Jun 20, 2024
- 1 min read
Updated: Jun 14
The financial services industry in Egypt, encompassing fintech, is a critical pillar of the national economy, facilitating economic growth, financial inclusion, and innovation. As of 2023, the fintech sector in Egypt is valued at approximately USD 5 billion, with digital payments, lending platforms, and financial management solutions being the primary components (source: Egyptian Financial Regulatory Authority).
The sector has seen an annual growth rate of 15% over the past five years, driven by regulatory reforms, technological advancements, and increasing financial inclusion. Egypt's GDP stood at USD 403 billion in 2022, with the financial services sector accounting for about 2% of the total (source: World Bank). The future growth potential of the sector is substantial, with projections indicating that the market could reach USD 10 billion by 2030, supported by ongoing investments in digital financial services and regulatory support.
