Egypt: Central bank approves Telda card and app

Driven by its passion for a digital economy, Telda wants to introduce about 67% of Egypt’s population who remain unbanked into the financial industry and offering a better financial experience Telda has sought to offer free prepaid cards. Users will enjoy making payments online using this Telda’s card without having a bank account. Thus, breaking the barriers to accessing financial services as Telda’s app allows every user to manage their accounts with features and tools that make navigating easy.

Egypt has over 100  million people, and Telda aims to play a significant role in transforming Egypt into a fully digital economy. The firm will also seek to significantly initiate the large migration of many young Egyptians into an advanced financial ecosystem. Nationally, Egypt is considered one of Africa’s highest consumer spending markets. The Central Bank will strive to ensure grassroots companies like Telda will rise in boosting Egypt’s financial inclusion mission.