EGP 7.8Trn Worth Of E-Payment, Collection Services Since 2019: Finance Minister

(MENAFN- Daily News Egypt)

Minister of Finance Mohamed Maait said Sunday that the government is moving forward with the digital economic transformation, which helps to improve the financial governance of the state. He said that the electronic payment and collection system serves more than 20 million citizens and handles over 500 million transactions annually. The system has processed EGP 7.8trn worth of services since its launch in 2019, and EGP 3.46trn worth of transactions for 59 economic entities in the fiscal year 2022/2023.

Maait made these remarks during the 27th edition of the Cairo ICT exhibition, which has the theme“For a Better World”.

He added that the government has made significant strides in digitizing government services and adopting best international practices in implementing digital systems. He said that this improves the efficiency and effectiveness of government performance and enhances the quality of services provided to citizens. He also said that the government is restructuring the procedures and sectors within the Ministry of Finance through digital transformation, building and developing systems and data to use them for making quick and accurate decisions that aim to maximize state revenues and rationalize its spending.

Maait highlighted the role of e-Finance, a financial technology company, as the main technological arm of the state in implementing the national digital transformation project. He said that e-finance has developed its digital capabilities, making it strong, flexible, and fast. He also said that e-finance has played a pivotal role in building and operating platforms for integrating government financial services, such as integrating government revenues, developing the general state budget preparation systems, implementing the state employee system, and integrating the Ministry of Finance's systems.


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