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Fawry to launch Insurance Brokerage Service for micro products early 2020
Company invests EGP 250-300m per year to develop and expand its services
IPO of Fawry 30x oversubscribed in EGX
The offering included 36% stake, which represents 21% of its capital.
Fawry’s private placement, IPO oversubscribed for 16, 1.8 times, respectively
IPO to close tomorrow, trading begins on Thursday
Cautious optimism at EGX this week
Fawry’s IPO is likely to boost hopefulness in market, Eid holiday signals calm trading
Fawry’s institutional offering 15.9x oversubscribed, priced at EGP 6.46/share
Institutional offering of Egyptian e-payment network Fawry was 15.9x oversubscribed at EGP 6.46 per share (offer price), having generated about EGP 7.1bn ($431.0m), the offering manager EFG Hermes announced in a press statement on Thursday
Trading of Fawry shares on EGX to start on 8 August at EGP 6.46
Company to implement insurance brokerage requests electronically in 4Q19, revenues expected to reach EGP 869.4m by year-end
Fawry announces its intention to offer 36% stake owned by Netherland Holding BV on EGX
Furthermore, according to the statement, shares offered in connection with the institutional offering and the Egyptian retail offering will be offered and sold at the same price (offer price).
Fawry to offer 36- 40% stake on EGX
21% for strategic investors, between 15-19% stake for IPO and private placement
Share of Fawry offered in EGX before end of 2019 through partial exiting of investors
FV of company’s shares being determined before approval, completion of offering procedures: Okasha
Fawry considers entering field of IPO payment in EGX offerings through company’s outlets next year
We have achieved great success in funding traders who previously contracted with Fawry, we plan to expand this: Okasha
Fawry getting ready for EGX offering: CEO
Technological culture strongly prevalent in Egypt, allows building strong digital financial system
Fawry partners with BI-Technologies to link Sales Buzz app with its FMCG platform
Fawry, the Egyptian e-payment solutions company, signed a partnership with BI-Technologies company in order to link its Sales Buzz application with Fawry FMCG, the recent-established platform for merchants and consumer goods companies. The Sales Buzz application is used by more than 30,000 sales representatives in consumer goods companies in Egypt, Fawry FMCG platform currently serves …
Banque du Caire launches electronic loan repayment service, credit card payments in cooperation with Fawry
Service reduces time, effort exerted by customers, supports premium banking services: Banque du Caire CEO
Fawry awaits CBE’s approval to provide banking services through Fawry Plus
50% projected growth in e-payment next year: Okasha
New development will help Fawry to reach 6m daily transactions
Company’s e-payment injected EGP 90m last year to improve technological structure efficiency, guarantee electronic services quality
Fawry targets EGP 40bn worth of financial transactions by end-2018
Egypt’s electronic payment network Fawry aims to increase the value of its financial transactions to EGP 40bn by the end of this year, compared to EGP 25bn last year, said Mohamed Okasha, managing director of Fawry. He added that the company plans to increase its outlets to 100,000 by the end of 2018 compared to …
Fawry Plus POS to reach 360 outlets in two years: Okasha
Fawry, an e-payments company, aims to expand its Fawry Plus services in the coming period. According the company’s managing director, Mohamed Okasha, it now operates 60 Fawry Plus points of sale (POS). Okasha said the company intends to reach 120 outlets by the end of the year and 360 outlets in two years. Last year, …
Fawry POS reached 75,000 by end of 2017
Fawry electronic payment service has increased its points of sale (POS) to reach 75,000 at the end of December 2017. A source at the company said that the size of transactions made through Fawry POS reached EGP 25bn at the end of 2017. The official added that the company provided services to more than 20 …
EGP 25bn value of financial transactions via Fawry: Baseera
The Egyptian Center for Public Opinion Research (Baseera) announced that the value of financial transactions through the electronic payment network Fawry in Egypt increased to EGP 25bn in 2017 compared to EGP 16bn in 2016 There are many electronic payments network in Egypt in addition to Fawry, such as Bee Smart Payment Solutions and Khadamaty. …
Fawry expands services nationwide to overcome high operating costs
Company invests EGP 40m annually to develop its infrastructure
Fawry gets $20m from foreign investment fund
Ashraf Sabry, CEO of Fawry electronic payment company, disclosed that his company has received an investment of $20m from a foreign investment fund. Currently, the company is working to expand and develop the services it provides to consumers. Fawry annually invests EGP 30-40m to develop its technological infrastructure and increase the number of points offering …
Agreement signed between Fawry, B.Tech for customers’ instalments
The demand for instalment services has increased in light of the current economic conditions in Egypt. Nevertheless, an investment opportunity is created for electronic payment companies to represent the link between the installment customer and the collection, especially that Egypt aims to implement financial coverage. Fawry, the main electronic payment network in the Egyptian market, …
Fawry negotiates with banks to collect monthly installments for those who benefit from social housing project
EGP 1bn to be collected on a quarterly basis from 200,000 customers within the mortgage finance agreement
“Fawry” facilitates donations for hospitals and NGOs
“Fawry,” the Egyptian Market electronic payment company, has continued their role of facilitating donations throughout the year into the holy month of Ramadan. The organisation donates to a vast number of NGOs and charities in Egypt, including the largest institutions that cover most of the governorates. “Fawry’s” goal is to spread the spirit of cooperation …
E-payment companies can contribute to spreading banking services: Fawry CEO
The adoption of an integrated network between the Civil Status Authority and other government agencies will allow opening bank accounts without going to banks, says Sabry
EGP 1.08bn in instalments for social housing units paid by 270,000 individuals
From the beginning of November, instalments for the new phase of the social housing project reached EGP 1.08bn paid by 270,000 people. These instalments are to book 400,000 units dedicated to low-income citizens in new cities and governorates. Mohamed Okasha, managing director of Fawry, said 270,000 people have paid booking deposits through Fawry. Each …
Fawry focuses on mobile electronic payment services, payment solutions for e-commerce in 2017
40% expected growth for the size of the company in 2017
Fawry collects social housing instalments from 170,000 customers in fortnight
We aim to increase the number of payment points in Egypt to 70,000 in 2017
Fawry contracts with 12 banks for e-payments via mobile phone
We began launching the service with a number of banks and will soon be activated with others, says Fawry CEO
Fawry targets 50% growth rate in its business in Egypt during 2016
We aim to increase payment outlets to 60,000 by the end of 2016, says CEO