The Central Bank of Egypt (CBE) announced that 74.8% of citizens aged 15 and above now have access to and actively use formal financial accounts. This includes accounts with banks, Egypt Post, mobile wallets, and prepaid cards.
This figure represents a major jump from 70.7% in 2023, and a staggering 204% increase compared to 2016, signaling strong national momentum toward a more financially inclusive society.
The progress reflects government-led reforms and strategies aligned with Egypt Vision 2030, as well as enhanced cooperation between financial institutions, ministries, and private sector partners.
Expanding Access Through Policy Reforms
Among the key drivers of this success is the decision to lower the legal age for account ownership from 16 to 15, in line with the age of national ID issuance. This move has significantly broadened access for youth and adolescents across the country.
Furthermore, policies allowing citizens to open accounts using only a national ID card have streamlined the process and contributed to the opening of 1 million financial inclusion accounts and 400,000 economic activity accounts between 2022 and 2024.
Women and Youth at the Heart of Inclusion
Women have played a pivotal role in Egypt’s financial inclusion journey. By the end of 2024, over 23.3 million women held financial accounts, pushing the inclusion rate for women to 68.8%—a 295% increase since 2016.
The report also highlighted notable growth among young people. As of 2024, 53.1% of youth aged 15 to 35 were financially included, a 65% increase compared to 2020. This rise is tied to targeted youth-friendly policies and national programs aimed at economic empowerment and digital literacy.
Sustained National Momentum
These achievements align with Egypt’s broader commitment to sustainable development and economic resilience. The CBE emphasized that financial inclusion is a strategic pillar of Egypt’s economic policy, aiming to empower citizens, support entrepreneurship, and foster inclusive growth.
By integrating marginalized groups into the financial ecosystem, Egypt is paving the way for a more equitable, dynamic economy supported by digital transformation and fintech innovation.
