Yes. It really does say "The penis, mightier than the finger".
And what's strange is it actually makes sense.
Egyptians are well known for their awful spelling and grammar, but this takes it to a whole new level. The fact that this actually passed through production, marketing, advertising and even government sensors probably makes this one of the most epic ad FAILS in history!!
Is it real or fake? Well, according to reliable sources, this is NOT a hoax and is an actual real-life billboard in the district of Helwan in Egypt.