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Fawry is the leading digital transformation & E-payment platform in Egypt, offering financial services to consumers and businesses through more than 194,000 locations and a variety of channels. In addition Fawry considered as a provider of payment gateway in Egypt and e-commerce solutions. Know More

AIG Insurance Company has signed an agreement with Fawry, a digital payment platform.The partnership concerns the marketing of "Qershak el Abyad", an electronic policy managed by Fawry Insurance Brokerage.The product will thus be available through Fawry's network of 151 000 sales outlets and numerous distribution channels (banks, telephone operators, etc.) used by more than 30 million consumers.

Fawry is a pioneering Electronic Payment Network, offering financial services to consumers and businesses

Fawry is a pioneering Electronic Payment Network, offering financial services to consumers and businesses through more than 65 thousand locations and a variety of channels. It offers a convenient and reliable way to pay bills and other services in multiple channels (online, using ATMs , mobile wallets and retail points)The company'snetwork of retailers includes small groceries, pharmacies and stationaries, and post-offices, all equipped with point-of-sale machines – the same ones used for credit card payments.

Through Fawry, you can easily pay bills in Egypt and other services for telecommunications, tickets and tourism, online payments, various utilities, insurance, education fees, donations, financial payments and banks, pay for subscriptions and ads, and renew your car license.

Less than six months after becoming the first billion-dollar technology company in Egypt, Fawry has hit another milestone by surpassing the $2 billion market cap for the first time. Its stock has doubled in the last six months and closed at an all-time high of EGP 46.90 today, pushing its market cap to over EGP 32 billion. This makes it the fourth most valuable company listed on The Egyptian Exchange (EGX) and it seems that it’s only a matter of days before it takes the second position. The Egyptian payments firm had gone public in August 2020 by listing its shares on EGX at the price of EGP 6.46 per share. The share price has surged over 7x after company’s public market debut about eigtheen months ago.

vision of introducing electronic bill payment in Egypt, to beat the pressing need for convenience and easy payments in a country where traffic congestion and complex procedures are daily challenges that face consumers.

Fawry offers digital payments to companies and individuals in Egypt Fawry handles around 2.1 million transactions daily and collected 40 billion Egyptian pounds last year

Fawry saw a record surge in stock price during the first two months after their initial debut. The price then flattened until March – where it dropped to a record low of EGP 7 per share. As COVID-19 took center stage, the price shot up to its record high.

Egypt-based financial technology (fintech) company Fawry has played a pivotal role in providing digital payment capabilities to businesses and consumers alike in the country. Last year, the company went public on the Egyptian Exchange, a feat realised by few startups in the Middle East. Now, Fawry’s co-founder Mohamed Okasha has stepped down as the company’s managing director to launch his own fintech fund, Disruptech, with a target size of $25 million.  We spoke with Okasha about the fund and why he decided to launch it. 

The journey of a thousand miles begins with a single step! After twelve years of the startup journey, Cairo-headquartered fintech company Fawry has reached a unicorn status (that is, now worth over a billion dollar!), the first ever by any fintech startup in Egypt and the first ever by any African tech startup going through an IPO (Initial Public Offering) on African soil. Jumia, the Africa-focused ecommerce startup did this in 2019, but that was on the New York Stock Exchange. Interswitch, the Nigerian payment company, also did it last year, but it needed extra funding from VISA to make that happen. 

An Egyptian digital payments firm has quadrupled in value during the pandemic, helped by a government push to reduce citizens’ heavy reliance on cash. Investors and analysts are split on whether the stock rally has further legs.

A 300% rally from a mid-March low has boosted its market value to 20 billion Egyptian pounds ($1.3 billion). That puts Fawry among the country’s 10 most valuable companies alongside firms such as Telecom Egypt Co. and Elswedy Electric Co., which generate many times more revenue and profit.

Fawry, however, is the first-ever African fintech startup to go public through an IPO (Initial Public Offering) on African soil. Fawry went public, last year August, on The Egyptian Exchange (EGX) in the first Egyptian IPO of the year, offering 36 percent (254.6 million) of its shares on The Egyptian Exchange to raise EGP 1.64 billion ($100 million). The offering also comprised of a secondary sale by Netherland Holding BV. The company’s shares that were listed at the price of EGP 6.46 soared 31 percent to close at EGP 8.48 on the first day of trading, which gave the company a market cap close to EGP 6 billion or $366 million. Since then, its stock price has increased by over 300 percent.

The digital transformation and e-payments company Fawry became the first listed tech company in Egypt with a market capitalisation of $1 billion last week. At the end of trading on 17 August, the market value of the company had jumped to LE15.56 billion (around $1 billion), meaning it is now rubbing shoulders with the likes of CIB (Egypt), QNB Al-Ahli, the Eastern Company, the Abu Qir Fertilisers Company, Telecom Egypt, and Al-Sewedy Electric in the EGX index billionaires’ club.

As for the competitive advantages, we are the most popular service, compared to the rest of the companies, on top of our work during the current period to expand the range of services that we offer, where we signed a contract with beIN SPORTS for their customers to pay subscriptions through us. We also agreed with the company to pick up premiums from beIN customers€one million customers to date€in addition to more than 200 services that we currently have.

Mohamed Okasha, managing director of Fawry, said the company plans to increase its outlets to 100,000 in 2018 compared to 70,000 outlets this year. The company also provides e-payment services for monthly installment payments for the beneficiaries of social housing projects.

Fawry Plus is the first banking agent authorized by the Central Bank of Egypt (CBE), providing diverse banking and financial services, in addition to other unique services, to individuals and businesses through a network or retail branches. Fawry Plus aims to cover all Egypt, especially the areas that have an insufficient number of financial institutions compared to the population density. With Fawry Plus, financial services will become easier and more convenient.

STARTUP WATCH- Fawry is officially Egypt’s first unicorn: EGX-listed e-payments firm Fawry became the first Egyptian tech company to hit a market cap of USD 1 bn on Monday after its share price reached intraday highs of EGP 22.69, former managing director Mohamed Okasha announced in a LinkedIn post. Fawry’s share price has increased by more than 300% since it debuted on the EGX last year, a rise that has accelerated in recent months as the use of its payment services skyrocketed during the lockdown.

Fawry Banking and Payment Technology Services- a joint venture between HSBC, Arab African International Bank, Bank of Alexandria, EFG Hermes, Raya Holding and Fawry management)- is an electronic bill payment and presentment (EBPP) network that enables the Egyptian public to conveniently and securely pay their bills and topup their mobile phones through the various electronic channels available at banks and a network of retailers. Consumers will be able to pay their bills, buy their tickets, topup their phones and process other types of payments by seeking the service through any member bank or member retailer on the network. We link billers of all sectors to our nationwide network and integrate with them to make their bills available in electronic format

Fawry is the dominant ecommerce payment method in Egypt, accounting for almost 60% of payments. This e-voucher product allows shoppers to purchase online and pay afterwards using a 6 digit reference. This reference can be used to pay  at a variety of outlets (retail shops, ATMs or online banking) at more than 166,000 locations in 300 cities nationwide.

Fawry platform allows you to access a long list of payments opportunities in a very easy, transparent and efficient way