Despite currency fluctuations and global supply chain issues, vehicles remain the top-financed item in Egypt, accounting for 28.88% of all consumer finance activity in July 2024.

Owning a vehicle has become more of a necessity than a luxury, especially in areas with limited public transport. With car prices continuing to rise, installment plans are now the only way many Egyptians can afford to buy or upgrade their vehicles.

Closely behind cars, electronics made up 28.70% of all financed products in Egypt in 2024. Tech devices are non-negotiables in most households, but their rising cost has made paying upfront increasingly difficult.

Financing makes affording these high-cost essentials possible. In fact, the mobile phone market in Egypt, which saw a relatively sharp decline in sales during 2023, has bounced back a year later thanks to increased access to installment plans and a stronger product supply.

Furniture and appliances continue to be core financed products in Egypt, especially for new homeowners, making up 10.66% of all consumer finance in the country.

Unlike earlier generations, today's homeowners often receive unfinished properties that require complete fit-outs, which go beyond just paying for the mortgage.

Purchases from retail chains (supermarkets, pharmacies, electronics stores, and household retailers) accounted for 6.64% of consumer financing activity in July 2024.

Supported by the increased access to installment-based services at checkout, more Egyptians are now able to finance everyday purchases that were once paid for in full, making it easier to stay within monthly budgets without delaying important purchases.

Though not essential, these products still count among the top-financed items in Egypt, representing 5.35% of total consumer finance.

In an era of social media and personal branding, people continue to spend on how they look and present themselves, and financing helps spread out these lifestyle costs over time.

The increase in financed products reflects how consumers are adjusting to rising prices, changing income patterns, and the wider availability of structured financing tools.

Here are the drivers behind the growth in this sector:

1. Higher Living Costs
   With inflation still impacting basic expenses, many people are looking for ways to manage purchases without exhausting their savings. Installment plans allow them to pay over time while keeping monthly budgets stable.
2. Limited Use of Credit Cards
   Credit card ownership remains low in Egypt, leaving a gap in access to traditional short-term credit. For most buyers, Buy Now Pay Later (BNPL) options and installment services have become the practical alternative.
3. Wider Use of Digital Payment Tools
   Mobile apps and e-wallets make it easier to apply for financing instantly. Instead of long approval processes, users can activate a payment plan during checkout. This ease of access has made financing more common, even for everyday products.
4. More Planned Purchasing Decisions
   Consumers are being more deliberate with their spending. Rather than avoiding necessary purchases or paying all at once, they are using financing to pace their payments.
5. Greater Confidence in Licensed Providers
   Thanks to the Financial Regulatory Authority’s supervision, people are more comfortable using structured payment plans. Clearer terms, transparent fees, better customer service, and legal recourse have made these services feel safer and more predictable.

For many Egyptians, installment plans are no longer viewed as a last resort; they’re a normal part of how they budget and make important purchases over time.

Digital wallets, mobile payment systems, and fintech innovations are redefining the standard in installment payments. In the years ahead, we expect even more diverse consumer financing options.

Contact is continuously innovating to meet the needs of the modern consumer. With a focus on accessibility and transparency, our financing solutions empower people to afford the things they need while ensuring financial stability.

Whether you’re upgrading your home, buying a new vehicle, investing in your children’s education, or simply shopping for the essentials, our wide array of financing options is here to make the process simple and manageable. Reach out to us or visit your nearest branch to get started!