{"id":542954,"date":"2022-01-25T03:57:44","date_gmt":"2022-01-25T03:57:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/"},"modified":"2022-01-25T03:57:44","modified_gmt":"2022-01-25T03:57:44","slug":"fawry-looks-to-partner-with-local-bank-on-prepaid-cards","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/","title":{"rendered":"Fawry looks to partner with local bank on prepaid cards"},"content":{"rendered":"<p><strong>Fawry <\/strong><strong>is looking to partner with a local bank to issue<\/strong><strong> prepaid cards soon, <\/strong>Al Mal reports CEO and founder Ashraf Sabry as saying. Sabry\u2019s comments came on the sidelines of the company\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f46074c4-e6d1-4dcb-83e1-b76e834652ca\">launch of Fawry Yawmy<\/a>, the region\u2019s first fintech-based money market fund, in partnership with Misr Capital. Fawry earlier this week said it is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b39b1b1b-5efa-4e74-a05e-e910d41454a2\">eyeing a US listing<\/a>, and the company is also looking to raise its capital by EGP 800 mn through a rights issue to existing shareholders. The capital increase will help fund pre-paid card plans as part of a strategy to turn the MyFawry app into a super app, Sabry said on an investor update call last week.<\/p>\n<p><strong>Wataniya Petroleum could debut on the EGX this year<\/strong>, according to Ayman Soliman, head of the Sovereign Fund of Egypt, which is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14b94986-d461-4f36-ab26-cf9227098f74\">currently restructuring<\/a> the military-owned company, according to <a href=\"https:\/\/bit.ly\/3H0Wej8\">Al Arabiya<\/a>.<\/p>\n<p><strong>We\u2019ll find out \u201csoon\u201d which mining companies have been awarded gold <\/strong><strong>exploration rights<\/strong> in the latest government tender. Oil Minister Tarek El Molla says that four companies have been handed concessions, <a href=\"https:\/\/bit.ly\/3AvhRWp\">Al Arabiya<\/a> reports.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>The National Egyptian Railway Industries Company<\/strong> has reached the final stages of negotiations with <strong>Hyundai Rotem<\/strong> to sign a contract to manufacture, assemble and supply 40 <strong>subway trains<\/strong> for the National Authority for Tunnels.<\/li>\n<li>Online marketplace <strong>Noon <\/strong>has <a href=\"https:\/\/ent.news\/2022\/1\/EN_PRL_Egypt_noon_payments_launch_2022.pdf\">launched (pdf)<\/a> its <strong>payment platform for SMEs<\/strong>, <a href=\"https:\/\/www.noonpayments.com\/\">Noon Payments<\/a>, in Egypt.<\/li>\n<li><strong>Banque Misr<\/strong> will provide car rental firm <strong>Zoomcar Egypt <\/strong>with <a href=\"https:\/\/ent.news\/2022\/1\/Zoomcar_Banque-Misr-Cooperation-Protocol-.pdf\">online and<\/a><a href=\"https:\/\/ent.news\/2022\/1\/Zoomcar_Banque-Misr-Cooperation-Protocol-.pdf\">mobile payment services (pdf)<\/a> for its customers.<\/li>\n<li><strong>Samsung <\/strong>will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/323563813147379\">start trial operations<\/a> at its <strong>EGP 500 mn Beni Suef tablet <\/strong><strong>factory <\/strong>in March, with an eye to kick off production in May.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Fawry is looking to partner with a local bank to issue prepaid cards soon, Al Mal reports CEO and founder Ashraf Sabry as saying. Sabry\u2019s comments came on the sidelines of the company\u2019s launch of Fawry Yawmy, the region\u2019s first fintech-based money market fund, in partnership with Misr Capital. Fawry earlier this week said it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,576,199,72,519,183,418,579,578,577,580],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542954","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-banque-misr","tag-e-commerce","tag-enterpriseam","tag-fawry","tag-fintech","tag-hyundai-rotem","tag-neric","tag-noon","tag-samsung","tag-zoomcar","wpautop","entry"],"acf":{"mongo_id":"4a6fb44f-f9fb-4ef0-9416-7d2284aa9169","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[542931],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fawry looks to partner with local bank on prepaid cards - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry looks to partner with local bank on prepaid cards\" \/>\n<meta property=\"og:description\" content=\"Fawry is looking to partner with a local bank to issue prepaid cards soon, Al Mal reports CEO and founder Ashraf Sabry as saying. Sabry\u2019s comments came on the sidelines of the company\u2019s launch of Fawry Yawmy, the region\u2019s first fintech-based money market fund, in partnership with Misr Capital. Fawry earlier this week said it [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-25T03:57:44+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Fawry looks to partner with local bank on prepaid cards\",\"datePublished\":\"2022-01-25T03:57:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\"},\"wordCount\":292,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ALSO ON OUR RADAR\",\"Banque Misr\",\"e-commerce\",\"EnterpriseAM\",\"Fawry\",\"Fintech\",\"Hyundai Rotem\",\"NERIC\",\"Noon\",\"Samsung\",\"Zoomcar\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\",\"name\":\"Fawry looks to partner with local bank on prepaid cards - 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EGX-listed e-payments giant Fawry has received approval from its board of directors to create an American depositary shares (ADS) program, which would allow the company to list shares in the US, and is exploring an SEC-registered secondary offering to follow, CEO Ashraf Sabry\u2026","rel":"","context":"In &quot;FINANCE WATCH&quot;","block_context":{"text":"FINANCE WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/finance-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/270.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542913,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/fawry-misr-capital-launch-menas-first-fintech-based-money-market-fund\/","url_meta":{"origin":542954,"position":1},"title":"Fawry + Misr Capital launch MENA\u2019s first fintech-based money market fund","author":"enterpriseam admin","date":"24 January 2022","format":false,"excerpt":"Fawry and Misr Capital are launching the MENA region\u2019s first fintech-based money market fund, Fawry Yawmy, Fawry announced in a press release(pdf) yesterday. 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