Consumer credit and lending have experienced substantial growth in the past year. In March 2023, the Central Bank of Egypt reported a significant increase in consumer credit.
In the face of soaring inflation rates and ongoing economic challenges such as international monetary fund debts, currency devaluation, and global conflicts like the Russian invasion of Ukraine, consumer credit has emerged as a crucial tool for sustaining purchasing power. Consumers are increasingly turning to credit, loans, and financing options for purchases ranging from high-value assets to everyday essentials.
The Social Housing Fund and Real Estate Finance Support government entities have reported an unexpected surge in bank participation throughout the fiscal year 2022/2023. This surge has significantly boosted the housing loans mortgage sector within consumer credit.
The recent period has borne witness to a remarkable surge in digital finance, e-commerce, and most notably, Buy Now, Pay Later (BNPL), establishing its dominance in the consumer credit landscape. The Ministry of Finance in Egypt anticipates a year-on-year growth of approximately 40% and a robust Compound Annual Growth Rate (CAGR) of 25% for BNPL as a consumer credit option.
Fintech Egypt, an initiative by the Central Bank of Egypt focused on innovation and strategy, has launched a digital academy aimed at upskilling the workforce in the banking, financial, and fintech sectors. This initiative aligns with the broader objective of enhancing financial inclusion efforts, generating employment opportunities, and advancing the financial sector.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Consumer Lending industry in Egypt with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Lending industry in Egypt, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Lending
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.
See All of Our DefinitionsThis report originates from Passport, our Consumer Lending research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!