International Journal of Accounting and Management Sciences (IJAMS)
DOI https://www.doi.org/10.56830/IJAMSSI202603
Author
Gawhara Mohamed
Belal Fathy
Ahmed Essam
Ahmed Waheed
Mahmoud Mourad
Ahmed Abdelshafy
Farid Moharam Algarhy
Abstract
This paper examines financial inclusion as a strategic driver of inclusive economic development, focusing on Egypt’s comprehensive national efforts within a global context. As access to formal financial services becomes increasingly recognized as a prerequisite for empowerment and growth, the study adopts the globally endorsed “5 A’s” framework—Availability, Awareness, Acceptability, Affordability, and Accessibility—as a diagnostic and evaluative tool.
Egypt’s financial inclusion rate has surged from 26% in 2016 to 76.3% in 2025, marking a 214% increase, largely due to cohesive policymaking, infrastructure investments, and digital innovation.
The Central Bank of Egypt (CBE) has led multi-stakeholder initiatives, including the National Financial Inclusion Strategy (2022–2025), the implementation of InstaPay, and the expansion of the Meeza card network. Special emphasis has been placed on underserved demographics—particularly women, youth, rural populations, and persons with disabilities—through targeted financial literacy campaigns, simplified account procedures, and tailored products.
Egypt’s strategic alignment with its Vision 2030 and its collaboration with international bodies such as the Alliance for Financial Inclusion (AFI) underscore its global positioning. Comparative analysis with India, Brazil, South Africa, and Nigeria reveals Egypt’s distinctive integrated development model, exemplified by the Hayah Kareema initiative, which uniquely combines rural development with financial access.
The paper highlights fintech success stories such as Fawry and Paymob, alongside the role of microfinance and SME digital transformation, with SMEs contributing 43% to GDP and 75% to employment.
Survey data indicates that 77% of SMEs now view digital payments as essential for business growth. Looking forward, Egypt’s roadmap includes the development of an interoperable payment system akin to India’s UPI, expansion of rural internet access, nationwide financial literacy scaling, and deeper private sector engagement.
With LE 700 billion in presidentially backed investments and 53.8 million financially included citizens, Egypt is not only achieving domestic transformation but positioning itself as a model for financial inclusion in the Global South.
This study concludes that Egypt’s experience demonstrates the transformative potential of aligning financial inclusion with national development strategy, offering actionable insights for emerging economies pursuing sustainable, technologyenabled economic empowerment.
Keywords: Financial Inclusion – Inclusive Economic Development – financial services – Egypt.
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