Egypt’s financial and insurance sectors saw significant expansion in the first nine months of 2024, as highlighted by the Financial Regulatory Authority (FRA).
Financing provided by entities under FRA regulation, including capital market and non-banking financial services, reached a substantial EGP 646.6 billion.
Stock issuances dominated with EGP 365.4 billion, followed by EGP 23.6 billion from other securities issuances. Financial leasing contributed EGP 82.3 billion, while medium, small, and micro enterprises received EGP 67.8 billion in financing. Consumer financing added EGP 41.9 billion, factoring activities accounted for EGP 47.9 billion, and mortgage financing totaled EGP 17.7 billion. Additionally, registrations on movable assets in the Collateral Registry reached EGP 2.82 trillion by September, reinforcing the nation’s financial foundation.
The insurance sector also recorded strong performance during this period, with collected premiums amounting to EGP 69 billion. Property and liability insurance accounted for EGP 38 billion, while life insurance and savings products added EGP 30.9 billion.
Compensation payouts totaled EGP 31.5 billion, split into EGP 15 billion for property and liability insurance and EGP 16.5 billion for life insurance and savings. Investments by private insurance funds reached EGP 20.1 billion, reflecting increased activity in the sector.
This progress underscores the FRA’s dedication to promoting financial inclusion, empowering small and medium enterprises, and ensuring the stability of the insurance market.
The authority’s strategic incentive packages and regulatory reforms have been instrumental in achieving these advancements.
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