Fawry, specializing in banking technology and electronic payments, and Bel Egypt, a global leader in dairy products and the owner of brands including “La Vache Qui Rit” and “Kiri,” have signed a strategic cooperation agreement to provide digital financing solutions for retailers under Bel Egypt’s loyalty program “Inaya”.
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This agreement represents a key milestone in aiding retailers’ digital transformation, enabling them to overcome current economic challenges and expand their businesses.
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With its extensive expertise in fintech, Fawry will offer innovative solutions that facilitate retailers’ access to necessary financing, allowing them to manage their operations more efficiently. This partnership reflects both companies’ commitment to supporting small retailers and enhancing their role in the economy.
Bel Egypt, the leading dairy products producer in Egypt, is committed to the sustainability and success of these retailers. The pioneering program aims to reach 25,000 retailers across all Egyptian governorates over five years. Bel Egypt has allocated EGP 60 million to provide financing for retailers, with the value of financing available to each participating retailer ranging from EGP 5,000 to a maximum of EGP 150,000. Retailers can join the program by contacting Bel or Fawry’s sales teams.
Hossam Ezz, CEO of Fawry FMCG, shared his enthusiasm for the program’s future, noting, “Our collaboration with Bel Egypt marks a significant milestone in our journey and serves as a catalyst for improving digital financing services for retailers. “This strategic step not only aims to facilitate retailers’ access to the necessary financing but also paves the way for future innovations in the financial sector. We are committed to delivering new financial solutions that align with rapid technological developments, contributing to building a more sustainable and efficient business environment.”
Hany Arram, Regional Manager of Bel Egypt and North-East Africa, conveyed his delight at the notable expansion of the “Enaya program”, highlighting the significance of this development in economically and socially empowering retailers. He said, “We are proud of our strategic partnership with Fawry FMCG, which embodies our shared commitment to fostering innovation in the financial sector. By integrating the latest technologies into our services, we aim to provide retailers with flexible and user-friendly financial solutions, helping them expand their businesses and improve their financial performance in the face of changing market challenges.”
“Inaya” program began as a health insurance service for outstanding retailers and their families, recognizing them as successful partners who contributed to the company’s growth. Bel Egypt was the first company in the food and beverage sector to launch a medical insurance program for retailers. The company has since developed the program into a comprehensive business model that provides retailers with unprecedented advantages by offering financial solutions and business models, thereby improving their competitive capabilities in the market, and ensuring the sustainability of businesses that contribute to strengthening the local economy.
About Fawry
Fawry for Banking Technology and Electronic Payments S.A.E. is the leading Egyptian digital transformation & fintech platform that revolutionized the concept of Omni channel payment in Africa and the Middle East over the past decade. Fawry offers more than 1,186 financial services to consumers and businesses through more than 225 thousand locations in an easy way to pay bills and other services in multiple channels (online, using ATMs , mobile wallets and retail points)
About Bel Egypt
The Bel Group is a major player in the food industry through portions of dairy, fruit and plant-based products, and one of the world leaders in branded cheeses. Its portfolio of differentiated and internationally recognized brands includes The Laughing Cow®, Kiri®, Babybel®, Boursin®, Nurishh®, Pom’Potes®, and GoGo squeeZ®, as well as some 30 local brands. Together, these brands helped the Group generate sales of €3.645 billion in 2023.
Some 10,902 employees in 51 subsidiaries around the world contribute to the deployment of the Group’s mission to champion healthier and responsible food for all. Bel products are prepared at 30 production sites and distributed in more than 120 countries.
