Fawry, Egypt’s leading fintech and digital payments company, has announced a strategic partnership with Erada Finance, a specialized microfinance provider for SMEs. The collaboration aims to digitize and streamline the loan disbursement process for small and medium enterprises across the country, leveraging Fawry’s extensive network to enhance financial inclusion in line with Egypt’s Vision 2030.
A Strategic Push for Financial Inclusion
This partnership marks a significant step in supporting the growth of micro, small, and medium enterprises, which are considered a cornerstone of the Egyptian economy. The collaboration enables beneficiaries of Erada Finance to receive their approved funds instantly and securely through Fawry’s nationwide network of branches.
The initiative operates on a real-time digital integration between the two companies. This system not only accelerates the financing cycle for SMEs but also mitigates the risks associated with handling large amounts of cash, a common challenge in traditional lending models. By providing a secure and accessible disbursement channel, the partnership aims to bring more businesses into the formal financial ecosystem.
Redefining the Financing Experience
The collaboration leverages Fawry’s vast infrastructure to expand Erada’s reach, allowing the microfinance firm to serve a larger and more geographically diverse customer base. For entrepreneurs and small business owners, this means faster access to capital, reduced administrative hurdles, and the convenience of collecting funds from easily accessible Fawry Plus branches, which function as integrated financial service centers.
Hossam Ezz, Chief Commercial Officer at Fawry, commented on the alliance, stating: “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.”
Amr Abou El Azm, Co-founder, CEO, and Vice Chairman of Erada Finance, added: “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.”
About Fawry
Founded in 2008, Fawry is Egypt’s leading fintech company, serving both the banked and unbanked population. Its core services include electronic bill payments, mobile top-ups, and a variety of other digital provisions. Through its peer-to-peer model, Fawry enables corporates and SMEs to accept electronic payments via websites, mobile phones, and POS systems. With a network of 36 member banks and 385.6 thousand agents, Fawry processes over 6 million transactions daily for an estimated 54.5 million monthly users.
About Erada Finance
Erada Finance was established in 2022 through a collaboration between e& Egypt, The Sovereign Fund of Egypt, and its CEO, Amr Abou El Azm. The company provides tailored financing solutions for projects across various industries, with a strong focus on supporting youth, empowering women, and promoting financial inclusion. In just three years, Erada Finance has expanded to 97 branches across 18 governorates, disbursing over EGP 3 billion in financing to more than 80,000 clients.
Source: Zawya
