Egypt’s Ashraf Sabry leads Fawry’s bold move to revolutionize digital payments in MENA

Key Points

• Fawry unveils an integrated platform to streamline financial operations for businesses across MENA, enhancing payroll, expense management, and digital payments.
• Fawry partners with Egypt’s leading pharmaceutical distributor to boost digital payment solutions, reinforcing its push for financial integration in key sectors.
• The company is eyeing regional growth through strategic partnerships while planning money transfer services via MyFawry, pending regulatory approval.

Fawry for Banking Technology and Electronic Payments (Fawry), an Egyptian fintech company led by Ashraf Sabry, has introduced Fawry Business, an integrated platform designed to simplify financial operations for businesses across the MENA region. This reflects its commitment to accelerating digital transformation and making financial transactions seamless.

Driving digital transformation

Fawry Business provides digital solutions to help companies—ranging from manufacturing and retail to education and healthcare—automate payroll, track attendance using geolocation, and manage expenses. The platform aims to streamline financial operations, making it easier for businesses to navigate day-to-day transactions.

As part of its latest push, Fawry announced a strategic partnership on Feb. 5 with PharmaOverseas, a leading pharmaceutical distributor in Egypt, to enhance digital payment solutions in the sector.

CEO Ashraf Sabry highlighted the importance of integrated financial services, stating, “The rapid shift to digital demands smarter solutions. Fawry Business is designed to help companies overcome financial challenges and stay ahead.”

Fawry has already made strides in the space through Fawry MSME, a fully owned subsidiary that, in December, processed 70,000 transactions worth EGP 2 billion ($39.5 million). The service, which digitally connects 50,000 merchants to Egypt’s first Buy Now, Pay Later (BNPL) solution, has been a game changer in linking small businesses with suppliers.

Expanding beyond Egypt

Since its founding in 2008, Fawry has grown into a key player in Africa’s fintech industry, backed by major shareholders such as the National Bank of Egypt, Banque Misr, Alpha Oryx UAE, the Egyptian American Enterprise Fund, and Link Holdco. Sabry himself holds a 2.345% stake, amounting to 40,036,282 shares.

Now, the company is expanding beyond Egypt, targeting Saudi Arabia and the UAE through strategic partnerships to gain a foothold in these markets. It also plans to introduce money transfer services via the MyFawry app, pending approval from the Central Bank of Egypt (CBE).

Looking ahead, Fawry is considering applying for a digital banking license, a move that could pave the way for full-scale financial services. With digital payment adoption growing rapidly, the company is positioning itself as a key player in MENA’s evolving fintech landscape.