EGP 920 million.. Egyptians Expenditures on Electrical Appliances in A Month
The consumer financing activity for the month of September 2022 recorded “installments” about 2.597 billion pounds, for a total of 228.6 thousand beneficiaries.
Shrouq
Egyptians spent approximately 920 million pounds on purchasing electrical appliances and electronics in one month.
2.59 billion Pounds in September installments
According to the report issued by the Financial Regulatory Authority for the month of September 2022, the consumer financing activity for the month of September 2022 recorded “installments” about 2.597 billion pounds, for a total of 228.6 thousand beneficiaries.
According to the report prepared by the Central Administration for Supervision and Control of the Activities of Finance Companies and the Central Administration for Research and Policies of the Financial Regulatory Authority, 35.57% of the total consumer financing activity during the month of September 2022 consisted of installments for the purchase of electrical appliances and electronics.
Automotive sector
The largest share of consumer financing activity was directed to the electrical sector, with a spending rate of 35.57%, then the automobile and vehicle sector, which ranked second with a rate of 27.26%.
89.7% growth rate among beneficiaries
According to the financial control report, the number of beneficiaries of the installment system through consumer financing activity grew by 89.7% in September 2022 compared to the same month in 2021.
September 2021 recorded nearly 120.5 thousand beneficiaries, and the total financing value in September 2022 witnessed a growth of 62.7%, when it recorded EGP 2.597 billion, compared to EGP 1.596 billion in September 2021.
Today, the Financial Regulatory Authority issued its latest reports for the month of September 2022, indicating that the total values of financing granted through the entities subject to the authority’s supervision amounted to a total value of EGP 104.4 billion.
