“Fawry” took over “Waffarha” shares

Cairo,
Fawry, Egypt’s first and largest E-payment company in the Egyptian market signed an agreement to acquire a non-controlling interest in “Waffarha” is a platform that provides various offers and discount vouchers for B2B and B2C through its website and APPs on mobile devices.

Tarek Magdy, CEO of Waffarha, said: “Waffarha” was launched 6 years ago as the only platform that provides offers ranging from 50% for B2B and B2C, with more than 1 million social media followers and more than 1000 commercial series.”

And he pointed out that “Waffarha” provides many services as (restaurants, cafes, travel, health and beauty, entertainment, etc.). There are 250 thousand customers who have saved nearly 50 million EGP after using “Waffarha”. All offers starting from 50% include taxes and services, and can be paid in different ways by choosing “Fawry Pay” service, which allows customers to pay cash in more than 90 thousand stores of Fawry or by banks (credit cards or direct debit). In addition to paying with “PayPal” through Fawry Pay”
Magdy added: “Waffarha” aims to reach its dealings to 150 million Egyptian pounds by 2020″.

“In order to provide end-to-end solutions to its customers, banks, mobile companies, consumer goods companies and other sectors, “Fawry” has invested in “Waffarha” to provide loyalty program solutions, replacing bonus points, offers and discounts to its customers in an electronic way and integrate them with payment solutions.” said Mohamed Okasha, Managing Director of Fawry.

Okasha added that investing in “Waffarha” is considered the third investment for Fawry in 2018 after “Bosta” and “Tazkara”, and this step is completing a series of investments in many of the leading companies, which leads to complementary services for payment solutions.

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