Maait: 7.8 trillion pounds, the value of electronic payments so far
Dr. Mohamed Maait, Minister of Finance, confirmed that we are moving steadily towards the transformation of the digital economy, in a way that contributes to strengthening the financial governance of the state, in the “New Republic,” noting that the electronic payment and collection system includes more than 500 million transactions annually, benefiting 20 people. One million citizens, and the value of its services since its launch in 2019 until now has reached 7.8 trillion pounds, and the value of the total transactions of 59 economic entities during the fiscal year 2022/2023 reached about 3.46 trillion pounds.
The Minister added, during the 27th edition of the Cairo International Technology Exhibition “Cairo ICT”, entitled “For a Better World”, that the volume of government receipts through the electronic collection system this year amounted to 1.15 trillion pounds, with a growth rate of 20%, and government payments amounted to 2, 3 trillion pounds, an increase of 18%, by relying on the payments infrastructure of the “e-Finance Financial and Digital Investments” group.
The Minister pointed out that we have come a long way in the process of digitizing government services and localizing distinguished international experiences in applying digital systems. In a way that contributes to improving the efficiency and effectiveness of government performance, and improving the quality of services provided to citizens, explaining that we are working to restructure procedures and sectors in the Ministry of Finance, through digital transformation and building, developing and using systems and data. In a way that maximizes its benefit in making quick and accurate decisions aimed at maximizing state revenues and rationalizing its spending.
The minister said that the financial facilities operating technology company “E. Finance has been able to develop its capabilities in the field of digitization, making it the main strong, flexible and fast technological arm of the state in implementing the national project for digital transformation, pointing out that “E. Finance played a pivotal role in building and operating government financial services integration platforms, completing the integration of government revenues (economic bodies and the budgetary body), developing the state’s general budget preparation systems, implementing the state’s employee system, and integrating the Ministry of Finance’s systems as well.