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Even when faced with complex regional politics, currency fluctuations and the impact of global crises such as the Covid-19 pandemic, Egypt’s banking sector remained resilient amid wider economic pressures in recent years. Part of this is attributed to the sector’s size – with Egypt having the largest banking system in North Africa – and stability. The industry has played an...

Financial technology (fintech) firms are gaining market share that was formerly the preserve of established remittance service providers. Remittances have grown in importance in recent decades and now constitute the largest source of foreign income for many developing economies. They also tend to be countercyclical, increasing during economic downturns or natural disasters...

Many of the government of Egypt’s recent reforms have centred around modernisation and digitalisation across all areas of the economy. Egypt Vision 2030 lays the groundwork for a digital transformation, and the Sustainable Agriculture Development Strategy 2030 focuses this shift on the agriculture sector.

While many countries with desert climates struggle to establish strong agriculture sectors, it is a critical and successful pillar of Egypt’s economy. The fertile Nile Delta is responsible for the country’s rich natural conditions, and enables it to grow a wide variety of crops, including cereals, cotton, sugar, fruits and vegetables. The sector is further supported by a well-...

Egypt was one of the few economies to witness positive GDP growth in the first two years of the Covid-19 pandemic, fuelled in part by strong consumer spending. According to a November 2021 report from Fitch Solutions, real household spending expanded by around 7% in both 2020 and 2021 – despite the widespread impact of the pandemic, which hit key sectors such as tourism...