Al Baraka Bank Egypt finances Cairo public transport prepaid ticket automation project
Updated 1/20/2026 9:25:00 AM
Arab Finance: Al Baraka Bank Egypt (SAUD) has signed a cooperation protocol with engineering firm ACME Integrated Engineering Systems to finance the Cairo Public Transport Authority’s prepaid bus ticket automation project, as per an emailed press release.
This comes within the framework of a contract signed between the authority and the military production firm TUYA Technology.
The financing will be provided directly to ACME, with Al Baraka Bank Egypt acting as the sole bank financing the project.
The agreement is part of the government’s efforts to advance digital transformation and expand financial inclusion in the public transport sector.
Al Baraka Bank Egypt is financing the first phase of the project, which covers 900 buses.
The broader project targets the digitization of the electronic payment system for 1,800 buses in the authority’s fleet to replace the current cash payment system with a digital platform that supports multiple electronic payment methods.
The project is expected to improve passenger access to payment options, support service operations, and contribute to the efficiency of Cairo’s public transport network.
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