If you're wondering just how big consumer finance has grown in Egypt, here are the numbers:

• In 2021, the total value of consumer financing in Egypt stood at around EGP 14.9 billion.
• By 2023, it had climbed to over EGP 47.3 billion.
• This number exceeded EGP 55 billion by the end of 2024. That’s a growth rate of more than 224% in just three years.

But it’s not just the size of the market that’s changed; the number of people using these services has too. Around 1.35 million Egyptians used installment-based financial products in 2021. By late 2024, that number had grown to nearly 3.76 million -almost triple in just a few years.

This growth reflects how everyday Egyptians are managing major purchases today. Instead of solely relying on savings or informal borrowing, more and more people are turning to formal, regulated providers. And with this surge in finance in Egypt comes better access and smarter tools for the public to manage their spending.

About 63% of Egyptians are between the ages of 15 and 64. That means millions of people are in (or entering) their prime working and spending years, reinforcing the demand for more consumer finance services in Egypt that support major purchases and lifestyle aspirations for that population.

Unlike older generations who were cautious about borrowing, today’s consumers are less hesitant to spread large payments out over time. Moreover, better digital literacy and mobile-first behavior mean people are discovering and comparing financial services in Egypt more easily than ever before.

It’s no secret that recent economic conditions have pushed many Egyptians to rethink their spending habits. With inflation and the consequent rise in living costs, large one-time purchases have become harder to pay for upfront.

As a result, more people are turning to installment plans. Instead of delaying purchases or dipping into savings, more people are choosing consumer finance services in Egypt to stay afloat without compromising their quality of life.

This growing reliance on installment plans has also changed how people think about money. More consumers are evaluating lending interest, repayment flexibility, and the total cost over time.

According to the Central Bank of Egypt, nearly 75% of Egypt’s adult population is actively using at least one formal financial service, whether that’s a bank account, Egypt Post, mobile wallet, prepaid card, or installment plan.

This financial inclusion was made possible thanks to government-backed efforts, including:

• Mandatory salary deposits for public-sector employees
• Expansion of mobile wallets and digital payment infrastructure
• Government initiatives that encourage account opening across underserved communities.
• Support from the CBE and FRA for fintech companies and non-bank financial institutions
• Simplified onboarding processes that made it easier for low-income or informal workers to access services

These changes opened the door for millions of Egyptians to access credit for the first time. What was once limited to high-income or banked customers is now available to freelancers, informal workers, and small business owners. That’s a big reason why consumer finance in Egypt has taken off the way it has.

A few years ago, consumer finance in Egypt felt like a grey area. Today, it’s a structured, regulated industry trusted by most.

Thanks to laws like Consumer Finance Law No. 18 of 2020, the Financial Regulatory Authority (FRA) now supervises all non-bank consumer finance providers in Egypt. That means clearer contracts, more protection for customers, and more accountability from lenders. The creation of the Consumer Finance Federation has also helped standardize practices across the market.

For borrowers, this means peace of mind. There is greater transparency in how loans are structured, more legal recourse in the event of disputes, and clearer understanding of aspects such as interest rates, payment terms, and service fees.

As regulation improves, so does consumer confidence. And that’s one more reason why finance in Egypt is seeing such a strong and sustained growth.

You no longer need a traditional bank to access credit in Egypt. Thanks to fintech companies and Buy Now, Pay Later (BNPL) platforms, more people are turning to digital-first financing solutions that are faster, easier, and more accessible.

Egypt is home to over 177 active fintech companies, spanning payments, lending, microfinance, and other financial services. BNPL alone sees 53% annual growth, with the market expected to reach $5.8 billion by 2028. These tools are especially popular among young, urban Egyptians seeking short-term credit without the need for complex paperwork or lengthy processing times.

Increased demand for financing doesn’t mean people are spending recklessly. In fact, data shows quite the opposite. A 2024 survey found that 74% of Egyptians plan their purchases in advance, and 66% actively compare deals before buying. That kind of mindset pairs perfectly with installment plans.

Instead of avoiding big purchases entirely, more people are using consumer finance to spread costs without compromising.

As financial tools become easier to access, Egyptians are becoming more strategic with how they use them.

Consumer finance is doing more than helping people manage purchases; it’s also supporting the wider economy.

When more households can afford essentials like appliances, school fees, or medical expenses with structured payments, local demand grows. That demand keeps merchants in business and helps money circulate in the economy, even during periods of inflation.

Wider access to formal credit also encourages financial discipline. As more Egyptians move from cash-based transactions to trackable, structured financing, they build credit histories and become part of a more stable, visible financial system. For small businesses and freelancers, that means new ways to grow. For households, it means fewer financial shocks.

At Contact, we’ve made financing more accessible and more aligned with how people actually live and spend. We're fully licensed by the FRA and deeply invested in financial inclusion across Egypt. With over 75 branches and 10,000+ points of sale, we’ve made it easy to access financing wherever you are.

With decades of experience in Egypt’s financial sector, we support a wide range of services, including auto financing, education, insurance, and home furniture. Our services are backed by a team of more than 2,500 employees committed to helping customers make informed financial decisions.

Whether you’re applying for the first time or managing multiple payments, we’re here to make the process simpler and smarter, from start to finish.

Learn more about how we work, or visit your nearest branch to get started.