CBE launches financial literacy campaign

The initiative aims to simplify financial concepts and enhance understanding of the various financial products and services available to the public.

The campaign covers key topics, such as financial inclusion, entrepreneurship, consumer financial protection, inflation, and payment systems.

It is designed to help citizens, entrepreneurs, investors, and other segments of society more effectively navigate and facilitate financial transactions.

This initiative is part of the CBE’s broader strategy to drive financial inclusion across Egypt. It mainly targets underserved groups, such as women, youth, people with disabilities, the elderly, farmers, and entrepreneurs.

Furthermore, the campaign is part of the "Strengthening Financial Inclusion and Banking Supervision in Egypt" technical assistance project, launched in November 2018 and carried out by GIZ in partnership with the EU and the German Federal Ministry for Economic Cooperation and Development (BMZ).

The CBE emphasized that financial literacy is a key pillar of its Financial Inclusion Strategy, which is vital in supporting Egypt's inclusive and sustainable economic development.

Growth in financial inclusion
 

Financial inclusion in Egypt has seen significant growth, with the number of Egyptians holding transactional accounts rising by 181 percent from 2016 to June 2024.

By mid-2024, 48.1 million Egyptians were using transactional accounts, representing a financial inclusion rate of 71.5 percent. This increase reflects the success of various efforts to empower different segments of society, including women and small businesses.

The number of women with transactional accounts has also seen positive growth, increasing from 20.3 million in December 2023 to 20.8 million in June 2024. Since 2016, the number of financially included women has risen by 252 percent, marking a key achievement in Egypt's financial inclusion progress.