Despite the challenges facing non-bank financial activities, such as high interest rates and the inflationary environment, expectations indicate a bright increase while maintaining the same growth rates during the current year. Daily News Egypt surveyed experts on expectations of growth rates in all non-banking financial activities. Double-edged swordMohamed El-Feki, co-founder of Sympl platform, which specializes in “buy now and pay later” services, explained that the rise in interest rates is a double-edged sword. Electric appliances and electronics accounted for the largest share of the financing value, at 38.2%, with financing value amounting to EGP 3.3bn of the total financing value granted. In the second place came the purchase of cars and vehicles, with its acquisition of 26.1% of the total value of financing, with financing value amounting to EGP 2.2bn.

Source: Daily News Egypt May 19, 2023 06:05 UTC