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Arab Union reports 57M e-wallet users
The Arab Federation for Digital Transformation confirmed that Egypt experienced over two billion transactions through electronic wallets during the first half of 2024, with more than 57 million users registered. The total transaction value reached approximately 2.96 trillion Egyptian pounds. This development resulted from improvements in digital infrastructure and the advancement of the digital transformation initiative, as well as the issuance of three licenses for digital banks in collaboration with mobile companies. The banking sector also benefited from financial technology (FinTech) services. This shift contributes to increasing financial inclusion to over 80%, supports the integration of the informal economy into the formal sector, and enhances the digital governance system while reducing corruption—though challenges remain that require ongoing attention.
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