Ashraf Sabry leads Fawry to new milestone with BNPL transactions surpassing $40 million
CEO Ashraf Sabry's leadership has driven Fawry to become Egypt's largest electronic payment network, with over 50,000 merchants adopting the BNPL service.
CEO Ashraf Sabry's leadership has driven Fawry to become Egypt's largest electronic payment network, with over 50,000 merchants adopting the BNPL service.
Fawry’s impressive Q1 performance fueled investor confidence. During trading on the Egyptian Exchange on Tuesday, shares surged 3.99 percent to close at EGP6 ($0.128).
Fawry, with esteemed shareholders including the National Bank of Egypt and Banque Misr, has positioned itself as a key player in Africa’s fintech landscape.
Fawry for Banking Technology and Electronic Payments (Fawry) is a leading fintech company founded by Egyptian tycoon Ashraf Sabry.
Sabry, who founded Fawry in 2008 and pioneered electronic bill payments in Egypt, owns 2.345 percent of the fintech firm.
Sabry, a leading Egyptian entrepreneur who launched the payment platform in 2008, owns a 2.345 percent stake in Fawry.
Sabry, who launched the payment platform in 2008 and pioneered electronic bill payments in Egypt, controls 2.345 percent of Fawry.
Under the leadership of Sabry, Fawry reported a consolidated profit of $4.6 million in the first quarter of 2023.
Sabry’s Fawry surpasses expectations in Q1 2023 with a triple-digit profit surge, consolidating its position as a fintech leader.
Fawry is a leading fintech company.
Sabry controls 2.3 percent of the fintech company.
The bump in the market value of his stake cements his position as one of the richest investors on the Egyptian Stock Exchange.
Fawry’s market cap is $640 million, while Sabry’s 2.345-percent stake is valued at $15 million.
Fawry is one of Africa’s few listed fintech companies.