Fawry and Bel Egypt enhance digital financing solutions for retailers

By Gloria Methri

Fawry has signed an agreement with Bel Egypt to provide digital financing solutions for retailers under Bel Egypt’s loyalty program, “Enaya.”

This partnership will aid retailers’ digital transformation, enabling them to overcome economic challenges and expand their businesses. 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.

Bel Egypt, the dairy products producer in Egypt, is committed to the sustainability and success of these retailers. Over five years, the program aims to reach 25,000 retailers across all Egyptian governorates. Bel Egypt has allocated EGP 60 million to provide financing for retailers, with the funding 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. He noted, “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.”

Hany Arram, Regional Manager of Bel Egypt and North-East Africa, expressed his delight at the notable expansion of the Enaya program, stating, “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.”

The “Enaya” program began as a health insurance service for outstanding retailers and their families, recognising them as successful partners who contributed to the company’s growth. 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.