Fawry, a leader in banking technology and electronic payments, has signed a strategic cooperation agreement with Bel Egypt to provide digital financing solutions. This initiative, under Bel Egypt’s “Enaya” loyalty program, is set to support and empower 25,000 retailers across Egypt over the next five years.
Enhancing Retailers’ Access to Financing
The partnership between Fawry and Bel Egypt marks a key step toward improving retailers’ access to digital financing solutions. The program aims to overcome current economic challenges by enabling small retailers to access vital financial tools, empowering them to expand their businesses efficiently. The collaboration will offer innovative financing options to retailers, further advancing their digital transformation.
Bel Egypt, known for its popular brands like “La Vache Qui Rit” and “Kiri,” has committed to the success and sustainability of these retailers. The company has allocated EGP 60 million for the program, offering financing amounts ranging from EGP 5,000 to EGP 150,000 per retailer. Retailers can join the program by reaching out to Bel or Fawry’s sales teams.
Driving Innovation and Retail Empowerment
Hossam Ezz, CEO of Fawry FMCG, expressed his excitement about the partnership. “Our collaboration with Bel Egypt marks a significant milestone in improving digital financing services for retailers. This step not only facilitates access to financing but also sets the stage for future financial innovations,” Ezz stated. He emphasized Fawry’s commitment to introducing new financial solutions that align with technological advancements, contributing to a more sustainable business environment.
Hany Arram, Regional Manager of Bel Egypt and North-East Africa, highlighted the expansion of the “Enaya” program. “We are proud of our strategic partnership with Fawry FMCG,” said Arram. “By integrating advanced technologies, we aim to provide retailers with flexible financial solutions, helping them grow in a competitive market,” he added.
Supporting Retailer Growth Through the “Enaya” Program
Initially launched as a health insurance service for retailers, the “Enaya” program has evolved into a comprehensive business model. It now offers financial solutions designed to boost retailers’ competitive abilities while ensuring the sustainability of their businesses.
As the first company in the food and beverage sector to introduce a medical insurance program for retailers, Bel Egypt continues to lead in offering innovative support. The expansion of the program into a financial model enhances retailers’ capabilities and strengthens the local economy.
Impact on Market Trends and Economic Growth
This strategic partnership between Fawry and Bel Egypt positions both companies at the forefront of innovation in retail financing. As market dynamics shift and economic pressures grow, the program supports retailers’ adaptation to changing conditions.
By empowering small businesses, the initiative contributes to Egypt’s broader economic goals, fostering a resilient retail sector. Additionally, the partnership places both companies ahead of competitors in the financial solutions space. The action highlights their leadership in integrating technology and finance to drive growth.
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