Egypt's e-payment system generates EGP 7.8T since 2019
Updated 11/20/2023 1:42:00 AMArab Finance: Egypt has raised EGP 7.8 trillion through its e-payment and collection system since its launch in 2019, Minister of Finance Mohamed Maait revealed on the sidelines of the 27th edition of the International Technology Exhibition and Conference for the Middle East and Africa (Cairo ICT 23).
The figure was achieved via 500 million transactions annually, benefiting 20 million citizens.
The value of the total transactions of 59 economic entities during the fiscal year (FY) 2022/2023 amounted to about EGP 3.46 trillion.
Finance Minister Mohamed Maait added that the government proceeds through the e-collection system reached EGP 1.15 trillion this year, with an annual growth rate of 20%.
The Central Bank of Egypt (CBE) recently unveiled in a report that Egypt’s financial inclusion rate among citizens increased by 5.4% during the first six months of 2023, hitting 67.3%.
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