Increasing Financial Inclusion in Egypt’s Garment Sector through Responsible Wage Digitalization: Benefits for Workers and Business

The garment industry in Egypt provides around 2.5 million workers with access to formal employment, 40 percent of whom are women. While these jobs offer a regular income, many workers receive their wages in cash. This makes it difficult for workers, especially women, to manage their finances. Many garment workers are unbanked – only 26 percent of adults in Egypt have a financial institution account, limiting their access to financial services.

This report sets out the results from supporting nine factories in five governorates in Egypt with over 24,000 workers (43 percent women, 56percent under 35) with wage digitalization and enabling workers to access, use and benefit from their accounts. It includes recommendations for global brands and buyers, financial service providers and other key stakeholders to support this scale up in a way that can lead to increased financial inclusion and improved financial health for women and men workers across the industry.