Author: Follow Team

The period leading up to November 2024 saw significant growth in consumer financing in Egypt, particularly in the phones and electronics sector, according to recent report released by the Financial Regulatory Authority (FRA)Egyptians spent approximately EGP 2.3 billion on installment purchases of these goods during Black Friday sales. This amount represents 30.7% of the total consumer financing during the same month, which reached EGP 7.6 billion, marking a year-on-year growth of 42.1%. Additionally, the number of customers who benefited from installment services in November 2024 rose to 487.7 thousand, reflecting a year-on-year increase of 55.2%. This surge highlights growing confidence…