Revenues for Egyptian e-payment platform Fawry grew by 34.3% in 2021

Doaa A.Moneim , Thursday 21 Apr 2022

The revenues for Egypt-based e-payment platform Fawry climbed by 34.3 percent in 2021 to reach EGP 1.6 billion, with a growth in profit valued at EGP 932 million, an increase of 39.6 percent, according to the company’s financial statement released on Thursday.


Out of $1.8 billion in transactions, the Abu Dhabi Developmental Holding Company acquired in April over 215 million shares of Fawry with a total value of $68.5 million, as well as the subscription rights for more than 201 million shares of the company with a value of $54.8 million.

Fawry’s throughput value climbed in 2021 by 61.5 percent to post EGP 131 billion, with transactions amounting to 1.1 billion, growing by 4.6 percent.

“We made tangible progress on all our strategic objectives [in 2021], delivered impressive financial and operational results, and introduced more services than ever before in our thirteen-year history,” said Fawry’s CEO Asharf Sabry.

“Our performance in FY2021 kept up the momentum we built over the previous year, when Fawry overcame the market disruptions posed by the COVID-19 pandemic to deliver solid financial and operational growth,” Sabry said.

He added that Fawry aims to promote and stimulate the use of digital payment channels as well as widen its nationwide point of sales network by expanding the presence of FawryPlus branches.

“We also anticipate the impending release of our MyFawry consumer card. With Egypt's Instant Payment Network now online, it is an ideal time for us to bring to market an integrated card offering with a unique P2P use case,” Sabry revealed.

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