Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments signed a strategic cooperation agreement with LA Market, an exhibition and conference management company.
The joint deal is a part of Fawry’s efforts to bolster growth and success for local brands in Egypt, according to a press release.
The listed company plans to support women empowerment initiatives within the region to reinforce the business as well as the landscape.
Moreover, the partnership will enable Fawry to anchor digital transformation and provide multiple electronic services to all the various sectors of the country.
Heba El-Awady, Chief Business Officer at Fawry, said: "The agreement highlights the bridging of international and local markets, demonstrating a commitment to creating a global impact while focusing on the specific needs of the Egyptian market."
"The agreement has a positive impact on the local community by creating opportunities for businesses to thrive, thereby contributing to economic growth," El-Awady added.
Lydiaa Akram, Founder and CEO of LA Market, commented: "We hope to benefit from Fawry's sizeable experience and unique resources in the Egyptian market, and to combine the strengths of both companies to serve our customers better."
In the January-September 2023 period, Fawry logged consolidated net profits after tax worth EGP 556.21 million, an annual leap from EGP 192.93 million, including minority interest.
