Egypt’s FRA total financing hit EGP 646.6b in 1st 9m of ’24
Egypt’s Financial Regulatory Authority (FRA) announced that total financing provided by entities under its supervision reached 646.6 billion Egyptian pounds in the first nine months of 2024. This figure encompasses activities in both capital market operations and non-banking financial services.
Key contributors to the total financing include equity issuances valued at 365.4 billion Egyptian pounds, securities issuances other than equities at 23.6 billion Egyptian pounds, and financial leasing contracts amounting to 82.3 billion Egyptian pounds. Financing for micro, small, and medium enterprises (MSMEs) stood at 67.8 billion Egyptian pounds, while consumer financing accounted for 41.9 billion Egyptian pounds. Factoring transactions and real estate financing contributed 47.9 billion Egyptian pounds and 17.7 billion Egyptian pounds, respectively.
Additional Highlights:
- The value of movable assets registered in the movable collateral registry reached 2.82 trillion Egyptian pounds by the end of September 2024.
- Balances of financing for MSMEs were recorded at 71.3 billion Egyptian pounds as of the end of September.
Insurance Sector Performance
The FRA reported robust performance in the insurance sector, with total premiums collected during the January–September period reaching 69 billion Egyptian pounds. Property and liability insurance activities contributed 38 billion Egyptian pounds, while life insurance and savings accounted for 30.9 billion Egyptian pounds.
Total insurance claims paid during the same period amounted to 31.5 billion Egyptian pounds. Claims under property and liability insurance reached 15 billion Egyptian pounds, and those under life insurance and savings stood at 16.5 billion Egyptian pounds.
Private insurance funds also reported investments totalling 20.1 billion Egyptian pounds during the first nine months of 2024.
The FRA’s latest report underscores the continued growth of Egypt’s financial sector, highlighting its expanding role in supporting economic activities across various domains.
Attribution: FRA
Subediting: M. S. Salama
