Riyadh – Sharikat Mubasher: Fawry for Banking Technology and Electronic Payments, Egypt’s largest fintech and e-payment platform, is awaiting regulatory approvals in Saudi Arabia to begin operations in partnership with a major Saudi investor, Ashraf Sabry, Fawry’s CEO, told Asharq newspaper on the sidelines of the annual Hapi conference.
Sabry said the company is also in the process of obtaining new licenses in non-bank financial services as part of a planned EGP 1.5 billion investment next year to broaden its service offerings.
Sabry’s comments signal Fawry’s push to expand regionally and expand into non-bank financial sectors, building on its strong performance in Egypt’s rapidly evolving digital finance landscape.
Founded in 2008, Fawry has grown into a leading digital payments network in Egypt, serving more than 53 million users with bill payments, mobile top-ups, e-ticketing, and merchant payment solutions across online, mobile, and point-of-sale channels. It processes over 6 million transactions daily through partnerships with 36 banks and a network of more than 372,000 agents.
