[Transcript] #40: Fawry - How the Egyptian payments platform became one of the largest Tech companies in Africa
Transcript for podcast originally recorded on October 17, 2021
😉 Hello Afrobility readers and listeners!
In October 2021, we explored the story of Fawry - Egypt's leading financial services platform. Fawry offers convenient solutions for bill payments, mobile top-ups, e-commerce transactions, and more. Fawry has been instrumental in driving financial inclusion and digital transformation within Egypt. At the time of recording, Fawry was one of only three African tech companies to have gone public (alongside Jumia and IHS Towers).
Companies discussed: Fawry, Egypt National Post Office (ENPO), IFC, Helios Investment Partners, Raya Holding, Technology Development Fund (Ideavelopers), Arab African International Bank, HSBC, Bank of Alexandria (Alexbank), Paymob, Banque Misr, Ebtiikar, Khales, Bee, Masary, Meeza, elmenus & Cashi (alsoug).
Business concepts discussed: Payment Platforms, IPOs, startup incubation, African conglomerates, DFIs (Development Finance Institutions) & FinTech monetization strategy / Personal Finance OS
Enjoy!
Olumide Ogunsanwo
Personal: Website
Afrobility Podcast: Stories and analyses of African technology companies (Website, Listen: Apple podcasts, Spotify & Google podcasts & Read: Substack Newsletter)
Adamantium Fund: African B2B fund focused on education, health, finance, food and transportation (Website & memo)
Firedom Book: Financial Independence stories of African Immigrants (Website, Substack Newsletter & Buy: Print, eBook or Audiobook)
Transcript starts here
[00:00:00] Olumide Ogunsanwo: Welcome to Afrobility, a conversation about African business and technology. Today, we're going to talk about Fowery, the Egyptian payment platform. We'll explore the Fowery store across six different areas. Uno, we'll kick off with some context about Egypt. Dos, we'll talk about Fowery's founding and early history.
Tres, we'll talk about its fundraising growth. Cuatro, we'll do the product monetization strategy. Cinco, Talk about its competitive positioning and then CES will end on our overall outlook. This episode was recorded on October 17, 2021.
Banky El-Makanjarby. How’s it going?
[00:00:31] Bankole Makanju: Yeah, I'm ignoring that one.
[00:00:35] Olumide Ogunsanwo: I love it. It's very apt for this episode.
[00:00:37] Bankole Makanju: What you should do is you try to count, um, try to count in Nigerian languages, like Yoruba or something. Oh, I should actually. Yeah, maybe Swahili. You should mix it up. Choose a different language every time.
[00:00:45] Olumide Ogunsanwo: That's just like more research time, no way. This episode took a lot of prep. So I'm excited to talk about Fawry.
[00:01:06] Bankole Makanju: It's raining in Seattle. It's beautiful. I love it. Okay. Fawry.
[00:01:14] Olumide Ogunsanwo: We haven't done that many North African episodes, right?