42. Fawry for Banking and Payment Technology Services

Sector: Financial services
Cofounder and CEO: Ashraf Sabry
Market Value: $625 million
Sales: $74 million
Profits: $11 million
Assets: $208 million

Fawry’s primary services include enabling electronic bill payments and mobile top-ups. Through its peer-to-peer model, it enables corporates and SMEs to accept electronic payments through websites, mobile phones, and POS systems. With a network of 36 member banks and more than 280,000 agents, Fawry serves 49.4 million users and processed transactions of $6.8 billion in 2022. In November 2022, the company’s subsidiary, Fawry Microfinance, launched a digital loan request and tracking mobile app, Tamweelak Fawry, while it plans to launch BNPL service in 2023. ADQ is the largest shareholder, with a 12.6% stake.