The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported a sharp decline in non-payment protesto cases in Egypt during 2024, even as bankruptcy rulings recorded an increase.
According to CAPMAS’s annual bulletin on protesto (a formal legal notice when a debtor fails to pay a bill of exchange, promissory note, or cheque at its due date) cases and bankruptcy rulings, the number of non-payment protesto cases dropped to 3,290 in 2024, compared to 6,284 cases in 2023—a decrease of 2,994 cases or 48%.
The number of settled protesto cases also fell, reaching 821 in 2024, down from 1,466 in 2023, reflecting a decline of 645 cases or 44%. The value of debt in these settled cases dropped to EGP 16.4m in 2024, compared to EGP 22m in 2023—a decrease of EGP 5.2m or 24.3%.
By governorate, Menoufeya recorded the highest number of settled protesto cases at 174 (21.2% of the total), followed by Gharbeya with 119 cases (14.5%) and the Red Sea Governorate with another 119 cases (14.5%).
In terms of debt value for settled protesto cases, Qalyubeya ranked first with EGP 5.2m (32% of the total), followed by Menoufeya with EGP 2.1m (13%) and Gharbeya with EGP 1.9m (12%).
For non-payment protesto cases, Gharbeya topped the list with 609 cases (19%), followed by Cairo with 544 cases (17%) and Beheira with 397 cases (12.1%). Giza ranked first in terms of debt value, recording EGP 1.43bn (32% of the total), followed by Cairo with EGP 1.36bn (30%) and Menoufeya with EGP 757.7m (17%).
Meanwhile, the number of bankruptcy rulings increased to six cases in 2024, compared to just one case in 2023—an addition of five cases. Despite this rise, the value of debt linked to bankruptcy rulings fell to EGP 120.2m in 2024, compared to EGP 189.9m in 2023, representing a decrease of EGP 69.7m.
