Wednesday, July 23, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Africa

Fawry, Egypt-based Electronic Payment Platform to List on Egyptian Exchange

Tech Gist Africa by Tech Gist Africa
07/11/2019
in Africa, Africa News, News
0 0
1
Fawry, Egypt-based Electronic Payment Platform to List on Egyptian Exchange

Photocredit: menabytes.com

0
SHARES
Share on FacebookShare on Twitter

Egypt’s leading electronic payments company, Fawry plans to list shares on the Egyptian Exchange. This was first revealed by Mohamed Okasha, Fawry’s CO-founder and Managing Director in March 2019. Enterprise reported that Fawry will finally list 45% of its shares on the Egyptian Exchange in August.

Fawry was founded in 2008 by Ashraf Sabry and Mohamed Okasha. The company has since deployed over 250 electronic payment solutions through a network of over 100 000 service points across the country. Their offerings include ATMs, retail shops, post offices, mobile wallets and vendor kiosks. They also provide online payment gateways to businesses via credit cards issuance and mobile wallet services.


See also: Slack’s Direct listing on NYSE hits 49%


Fawry listing on the Egyptian Exchange would make it the largest offering Egypt has seen since Emaar Misr raised EGP 2.28 billion after going public in 2015. The e-payment platform is targeting between EGP 2 and 2.5 billion in the IPO.  This will value Fawry at EGP 4.4 – 5.5 billion ($120 – $150 million) if it pulls through. 

In 2015, Fawry exited a majority of its stakes to investors, comprising Egyptian-American Enterprise Fund, MENA Long-Term Value Fund, Helios Investment Partners, and the International Finance Corporation. The consortium acquired 85% stake in Fawry at a valuation of $100 million. Enterprise reported that the IPO may lead to a full or partial exit of 10 international major stakeholders.

Fawry recently signed a contract with Dubai Islamic Bank last month to test-run their e-payment solution in the UAE this summer. They plan to raise funds to increase points of sale, purchase new payment machines, and develop the Fawry Pay.

 

More on TechGist Africa:

  • Mastercard, CIAT and USADF to Expand Mastercard Farmers Network to Uganda
  • OPay Secures $50m Funding to Further Deepen Services in Nigeria
  • Vodacom Partners MasterCard to Launch VodaPay Masterpass
  • World Bank Approves $175 million Loan to Support Digital Transformation in Tunisia
  • Off Grid Solar Firm D.Light Secures $18 Million Funding, plans to Expand Across Africa
ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

telecommunications
Mobile networks

Cameroon Fines MTN and Orange $4.6 Million for Poor Service Delivery

by Tech Gist Africa
07/11/2025
0

Cameroon’s telecom regulator has issued fines totaling approximately 2.6 billion CFA francs (around US $4.6 million) to MTN Cameroon and Orange...

Read more
Cerebrium South Africa

Cerebrium, a South African AI startup raises $8.5 million seed funding

07/11/2025
Aria Ventures Egypt

Aria Ventures Launches $1 Million Fund to Boost Deep‑Tech Investment in Egypt

07/10/2025
BuuPass QuickBus Kenya

BuuPass, a Kenyan mobility startup has secured strategic funding from Yango Ventures

07/10/2025
Complete Farmer Ghana

Complete Farmer, a Ghana-based agritech company Raises $2.5 Million

07/09/2025
Next Post
Mastercard, CIAT and USADF to Expand Mastercard Farmers Network to Uganda, OPay Secures $50m Funding to Further Deepen Services in Nigeria and More

Mastercard, CIAT and USADF to Expand Mastercard Farmers Network to Uganda, OPay Secures $50m Funding to Further Deepen Services in Nigeria and More

CarePay secure funds for more expansion

Healthcare Startup CarePay Receives $300k Grant, Plans Pan-African Expansion

Jaguza Secure grant

Jaguza Tech Bags $27,500 Grant Prize for Agritech Innovation

Comments 1

  1. Pingback: Mastercard deepens Payment Services, Acquires Transfast | NAIJA NEWS AGENCY
No Result
View All Result

The Big 5

Africa Tech

Tech Diplomacy: How Africa is Leveraging Technology for International Relations and Development

by Tech Gist Africa
07/21/2025
0

...

Media and Entertainment

How African Technology is Changing the Face of Media, Entertainment, and Digital Content

by Tech Gist Africa
07/14/2025
0

...

Ecobank

Ecobank, Google Partner to Boost Financial Inclusion and Innovation Across Africa

by Tech Gist Africa
07/08/2025
0

...

AWIEF

AWIEF 2025 Awards Nominations Now Open to Celebrate Africa’s Top Women Entrepreneurs

by Tech Gist Africa
07/08/2025
0

...

Google for Startups Accelerator Africa

15 African AI startups Selected for Google for Startups Accelerator Africa

by Tech Gist Africa
07/08/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.