{"id":594822,"date":"2019-09-09T04:11:23","date_gmt":"2019-09-09T04:11:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/"},"modified":"2019-09-09T04:11:23","modified_gmt":"2019-09-09T04:11:23","slug":"egyptian-e-payments-platform-fawry-plans-gulf-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/","title":{"rendered":"Egyptian e-payments platform Fawry plans Gulf expansion"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <b>Fawry has big post-IPO plans in the Gulf:<\/b> Egyptian e-payments platform Fawry plans to expand into the UAE by the end of 2019, and Saudi Arabia and Kuwait in 2020, Managing Director <a href=\"https:\/\/ara.reuters.com\/article\/businessNews\/idARAKCN1VT06U\">Mohamed Okasha told Reuters<\/a>. The company is working on an agreement with one of the UAE\u2019s largest listed banks to introduce its platform in the country, he said without disclosing the name of the bank.<\/p>\n<p><b>The company remains ambitious at home:<\/b> As well as establishing a foothold in the Gulf, Okasha said that the company is planning to significantly expand the number of licensed merchants here in Egypt. \u201cOur goal over the next two years is to find a point for us within 150 meters anywhere in Egypt,\u201d he said. He also said his company has plans to increase the number of Fawry Plus branches more than fourfold in the coming five years to more than 300, from 70 currently.<\/p>\n<p><b>The expansion plans come off the back of a successful IPO on the EGX last month<\/b>, which saw the company\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/14\/egypts-first-ipo-this-year-sees-shares-up-31-on-the-first-day-of-trading\/\">share price jump 31%<\/a> to EGP 8.48 on the first day of trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fawry has big post-IPO plans in the Gulf: Egyptian e-payments platform Fawry plans to expand into the UAE by the end of 2019, and Saudi Arabia and Kuwait in 2020, Managing Director Mohamed Okasha told Reuters. The company is working on an agreement with one of the UAE\u2019s largest listed banks to introduce its platform [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":594823,"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":[8572],"tags":[72,519,78,685,219,2380,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-594822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-fawry","tag-ipo-watch","tag-kuwait","tag-saudi-arabia","tag-speed-round","tag-uae","wpautop","entry"],"acf":{"mongo_id":"584391f1-cd86-45c2-97a8-4cf97a275b44","is_powered_by":true,"section_story_id":"66e94785-feb3-4474-a741-622d688ca2bb","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/Fawry-1600px.jpg","photo_position":"above","related_issue":[594815],"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>Egyptian e-payments platform Fawry plans Gulf expansion - 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\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptian e-payments platform Fawry plans Gulf expansion\" \/>\n<meta property=\"og:description\" content=\"Fawry has big post-IPO plans in the Gulf: Egyptian e-payments platform Fawry plans to expand into the UAE by the end of 2019, and Saudi Arabia and Kuwait in 2020, Managing Director Mohamed Okasha told Reuters. The company is working on an agreement with one of the UAE\u2019s largest listed banks to introduce its platform [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-09T04:11:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/Fawry-1600px.jpg?fit=%2C&ssl=1\" \/>\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\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egyptian e-payments platform Fawry plans Gulf expansion\",\"datePublished\":\"2019-09-09T04:11:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/\"},\"wordCount\":187,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/Fawry-1600px.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Fawry\",\"IPO watch\",\"Kuwait\",\"Saudi Arabia\",\"SPEED ROUND\",\"UAE\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/egyptian-e-payments-platform-fawry-plans-gulf-expansion\/\",\"name\":\"Egyptian e-payments platform Fawry plans Gulf expansion - 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The company held a trial run in the UAE with the bank last summer in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601648,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/06\/fawry-considering-ipo-by-next-year-plans-expansions\/","url_meta":{"origin":594822,"position":1},"title":"Fawry considering IPO by next year, plans expansions","author":"enterpriseam admin","date":"6 March 2019","format":false,"excerpt":"IPO WATCH- Fawry considering IPO by next year, plans expansions: E-payments platform Fawry is considering listing on the EGX sometime in 2019 or 2020 to finance its expansions, Managing Director Mohamed Okasha told Al Mal. The company hasn\u2019t begun the IPO procedures yet but plans to hire a local investment\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591345,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/03\/fawry-in-talks-to-set-up-bank-transfer-service-for-egyptians-in-gcc\/","url_meta":{"origin":594822,"position":2},"title":"Fawry in talks to set up bank transfer service for Egyptians in GCC","author":"enterpriseam admin","date":"3 December 2019","format":false,"excerpt":"E-payments platform Fawry is in talks with local and regional banks to set up a bank transfer service for Egyptians living in the Gulf, Managing Director Mohamed Okasha tells Al Mal. The company is looking to initially establish the service in the UAE, Kuwait, and Saudi Arabia. The banks include\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574748,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/","url_meta":{"origin":594822,"position":3},"title":"Fawry receives CBE approval for bank transfer service","author":"enterpriseam admin","date":"21 September 2020","format":false,"excerpt":"Fawry gets CBE nod to partner with state-owned bank for transfer service: E-payments platform Fawry has received preliminary approval from the Central Bank of Egypt (CBE) to set up a bank transfer service for Egyptian expats; the service will be offered in partnership with an unnamed state-owned bank, CEO Ashraf\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/219.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596917,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/fawry-ipo-preparations-are-underway-but-date-size-has-yet-to-be-set\/","url_meta":{"origin":594822,"position":4},"title":"Fawry IPO preparations are underway, but date, size has yet to be set","author":"enterpriseam admin","date":"11 July 2019","format":false,"excerpt":"IPO WATCH- Fawry IPO preparations are underway, but no confirmation on date, size: Preparations for an initial public offering by e-payments platform Fawry are underway as shareholders are leaning towards a listing on the EGX, Fawry Managing Director Mohamed Okasha tells Arabic Reuters. That said, the size of the IPO\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590368,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/18\/fawry-plans-to-expand-to-saudi-arabia-eyes-digital-banking-license\/","url_meta":{"origin":594822,"position":5},"title":"Fawry plans to expand to Saudi Arabia + eyes digital banking license","author":"enterpriseam admin","date":"18 July 2023","format":false,"excerpt":"Fawry is in talks with the Saudi central bank to acquire a license","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/669.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/594822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=594822"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/594822\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/594815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/594823"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=594822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=594822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=594822"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=594822"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=594822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}