Fawry, Egyptโs leading fintech company, announced the activation of its official partnership with Erada Finance, a company specialized in microfinance and SMEs, in a strategic step aimed at redefining the financing experience in Egypt. This initiative enables beneficiaries to receive their financing through Fawryโs nationwide branch network, aligning with the governmentโs direction and Egyptโs Vision 2030 to accelerate digital transformation and achieve financial inclusion.
This partnership marks a new milestone in supporting the financing of micro, small, and medium enterprises, enabling beneficiaries of Erada Finance Microfinance to access their funds instantly and securely. The mechanism operates through real-time digital integration, reducing the risks associated with cash handling, easing congestion at traditional branches, and accelerating the financing cycle for micro, small, and medium enterprises.
Commenting on the partnership,ย Hossam Ezz, Chief Commercial Officer at Fawry, stated: โOur collaboration with Erada Finance reflects the strategic importance we place on supporting the Financing for micro, small, and medium enterprises (MSMEs) as a key pillar of the national economy. We are committed to delivering seamless and secure solutions through Fawryโs diverse channels, strengthening our financial services portfolio, and reinforcing Fawryโs position as a leading technology enabler that provides the infrastructure required to drive digital transformation and innovation across the financial sector.โ
For his part,ย Amr Abou El Azm, Co-founder, CEO, and Vice Chairman of Erada Finance, commented: โOur partnership withย Fawryย reflects our commitment to enhancing the customer experience and providing faster access to financing. By leveraging the geographic reach of Fawryโs branches, we have been able to expand the scope of our services and reach a larger segment of customers, supporting Egyptโs financial inclusion strategy and enabling underserved populations to access the financing they need for their projects efficiently and conveniently.โ
This step comes as a continuation of the role ofย Fawryย andย Erada Financeย in enabling the digital economy, withย Fawry Plus branchesย serving as integrated financial service centers providing collection solutions and cash services. The initiative supports small and medium enterprises by providing a flexible and secure financing environment, in line with Egyptโs digital transformation agenda and Vision 2030 to build an inclusive and sustainable digital economy.
