Egypt: Driving financial independence

Egypt: Driving financial independence

Said zater, group CEO of Contact Financial Holding, shares the Egypt-based group’s efforts to serve and bolster the country’s growing non-bank credit market.

What are the trends boosting the region’s consumer nonbank credit market today?

The consumer non-bank credit market in the Middle East, particularly Egypt, is a rapidly changing landscape. While there are several trends at play, I would like to highlight the top three.

First, the region has seen an increased demand for accessible and personalised financial solutions. This demand is being fuelled by an up-and-coming youth demographic combined with urbanisation. Egypt is the most populous country in the Arab world. Its demographic trends, characterised by a rising youth population, are the drivers of demand for accessible credit solutions. Additionally, technological advancements have ushered in a new era. Digital platforms have overhauled the way financial services are delivered.

This aligns with the emergence of innovative payment systems and fintech disruptors that cater to the preferences of digitally savvy consumers. Another significant trend is the growing emphasis on sustainability and an environmentally conscious investor segment.

This is pushing market players to other green finance products and socially responsible lending solutions. Environmental considerations and sustainability will increasingly shape investment preferences and contribute to the