Fawry is sn electronic bill presentment and payment platform in Egypt at a purchase price valuing the company at EGP 773 million (USD 100 million). Headquartered in Cairo, Fawry provides users with electronic bill presentment and payment services, connecting consumers, merchants, governments and financial institutions on a consolidated gateway that is accessible through multiple channels, including Point of Sale (POS) machines, ATMs, post offices, online and through mobile wallets.
Since its establishment in 2009, Fawry has been at the forefront of electronic payments in Egypt, providing payment solutions to its customers. The company today processes over one million transactions a day and operates a network of over 50,000 collection points in 300 cities and suburbs across the country.
The diverse Consortium combines expertise within the industry, local experience and relationships, and connectivity across Africa and the Middle East. The Consortium will work in partnership with the management team, the International Financial Corporation (“IFC”), and EME International, who will remain shareholders, to accelerate Fawry’s growth trajectory by enabling it to further increase the penetration of its financial services products in Egypt as well as achieve its ambition to expand internationally.
EFG Hermes acted as the sell-side advisor and broker on the transaction. Khodeir, Nour & Taha in association with Al Tamimi & Co. and Norton Rose Fulbright LLP acted as legal counsel to the Consortium. Zaki Hashem & Partners and Ibrachy & Partners acted as legal counsel to the selling shareholders and management.
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