OPay Applies for Egypt Digital Banking Licence, Reports Say

In Short

• OPay has reportedly applied for a digital banking licence in Egypt.
• Local reports say it submitted documents to the Central Bank of Egypt.
• The move follows strong reported 2025 financial results and ongoing IPO planning.

What Happened

OPay has reportedly applied for a digital banking licence in Egypt, according to local media reports. A digital banking licence is a regulator’s approval to offer bank-like services through apps and online channels, without relying on a large physical branch network.

Reports say the company submitted documents to the Central Bank of Egypt (CBE). The filing reportedly includes details about OPay’s shareholder structure, plus its marketing and technology plans. It also reportedly covers insurance and risk systems, which regulators typically review to check how a bank would protect customer funds and handle fraud.

The application comes around three years after earlier reports that OPay was exploring an Egypt entry. At the time, it was reportedly considering investing about $60 million to set up operations.

The push into Egypt follows a period of momentum for the fintech. OPay reportedly grew 2025 revenue by 161% to $536.25 million and posted net profit of $72.47 million. It also reported gross transaction value of $358 billion, a measure of total payments processed.

OPay has also been linked to IPO preparations, with a US listing often cited as the main target. Other reports have suggested it may also consider a Nigerian Exchange Group listing.

Why It Matters

Egypt is a large market where digital financial services are growing, and regulators are issuing new licences. The CBE recently granted OneBank a digital banking licence, adding to competition.

If approved, the licence could let OPay broaden from payments into deposit-taking and other banking services in Egypt. It would also reduce reliance on Nigeria as its main market, which matters as the company deals with recent shutdown rumours that it has publicly denied.

For investors, the application is another signal that OPay is still in expansion mode while it positions itself for a public-market story built on profitability and scale.