The GSMA (Global System for Mobile Communications Association) released its 2024 Mobile Money Regulatory Index, in which Egypt advanced 39 positions compared to 2023, reaching 6th place globally among 90 countries that adopt mobile money services. Egypt’s score increased from 80 points in 2023 to 93 points in 2024, achieving the highest growth rate globally.
This achievement reflects the success of Egypt’s efforts in transitioning to a fully digital society and promoting financial inclusion as a key pillar for building a competitive digital economy. By the end of 2024, the number of mobile wallets in Egypt exceeded 50 million, representing a 25% increase compared to 40 million wallets at the end of 2023.
The progress is the result of coordinated efforts by the National Telecommunications Regulatory Authority (NTRA), in partnership with the Central Bank of Egypt and mobile wallet service providers, to enable all segments of society to access mobile wallet services and facilitate their use. Among the regulatory measures taken were:
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Raising daily and monthly transaction limits to match the growing demand in Egypt.
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Expanding service points across the country to improve accessibility.
The GSMA Mobile Money Regulatory Index measures the effectiveness of rules and regulations applied to mobile money services, focusing on:
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Regulatory framework: Ease of opening and using mobile wallets.
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Service accessibility: Availability of points of service for users.
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Transaction limits: Maximum financial operations allowed through wallets.
For more details, the index is available on GSMA’s official website: GSMA Mobile Money Regulatory Index 2024
