The majority of Egypt’s population are unbanked and have no access to financial services. Thanks to fintech players like Fawry, this is changing quickly — and for the better. When Ashraf Sabry founded Fawry in 2008, he knew he wanted to leverage his experience and technology in a business that had recurring revenue. Flash forward and, a decade later, Fawry is now a payments platform that connects over 29 mn customers through 166K service points across the country, and can be used for over 850 services ranging from utility bills and school tuition, to traffic fines and insurance.
Ashraf talked to us about building the platform from the idea stage to becoming a major listed company on the EGX with international shareholders. He told us how the company was built with local talent, the company’s early stage challenges, and what’s next for Fawry.
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Making It is grateful for the generous support of:
CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.
The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.
You can check out Fawry here: www.fawry.com