- Partnership enables secure and efficient loan disbursement to beneficiaries
- Real-time digital integration accelerates disbursement cycles and supports sustainable SME growth
Cairo: Fawry, Egypt’s 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 Fawry’s nationwide branch network, aligning with the government’s direction and Egypt’s 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, Hossam Ezz, Chief Commercial Officer at Fawry, stated: “Our 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 Fawry’s diverse channels, strengthening our financial services portfolio, and reinforcing Fawry’s position as a leading technology enabler that provides the infrastructure required to drive digital transformation and innovation across the financial sector.”
For his part, Amr Abou El Azm, Co-founder, CEO, and Vice Chairman of Erada Finance, commented: “Our partnership with Fawry reflects our commitment to enhancing the customer experience and providing faster access to financing. By leveraging the geographic reach of Fawry’s branches, we have been able to expand the scope of our services and reach a larger segment of customers, supporting Egypt’s financial inclusion strategy and enabling underserved populations to access the financing they need for their projects efficiently and conveniently.”
This step comes as a continuation of the role of Fawry and Erada Finance in enabling the digital economy, with Fawry Plus branches 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 Egypt’s digital transformation agenda and Vision 2030 to build an inclusive and sustainable digital economy.
About Fawry
Founded in 2008, Fawry Egypt’s leading fintech company serving the banked and unbanked population. Fawry’s primary services include enabling electronic bill payments, mobile top-ups and provisions for millions of Egyptian users. Other digital services also include e-ticketing, cable TV, and variety of other services. Through its peer-to-peer model, Fawry is enabling corporates and SMEs to accept electronic payments through a number of platforms including websites, mobile phones, and POSs. With a network of 36 member banks, its mobile platform and 385.6 thousand agents, Fawry processes more than 6 million transactions per day, serving an estimated customer base of 54.5 million users monthly. Learn more at www.fawry.com.
About Erada Finance:
Erada Finance was established in 2022 as an Egyptian company through a collaboration between e& Egypt and The Sovereign Fund of Egypt, alongside the company’s CEO, Amr Abou El Azm. The company provides advanced financing solutions tailored to projects across various industries, with a strong focus on supporting youth, empowering women, and promoting financial inclusion.
Within three years, Erada Finance has expanded across 18 governorates in Egypt through 97 branches, focusing on developing micro, small, and medium enterprises while contributing to job creation and community development. To date, the company has issued financing exceeding EGP 3 billion and serves more than 80,000 clients, reinforcing its position as a leading provider of innovative financial solutions that support entrepreneurs and sector growth.
For more information, please visit: https://eradafinance.com/
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