CONTACT FINANCIAL HOLDING
CNFN
Companies InvestmentsPositive News
Contact Financial Holding and Fawry Forge Strategic Partnership to Revolutionize Egypt's Digital Payments Landscape
Strategic alliance between Contact and Fawry aims to boost Egypt's digital payments and financial inclusion through innovative BNPL solutions.
March 19, 2025 at 10:37:00 AMScore: 88
Cairo – In a landmark move, Contact Financial Holding (CNFN) and Fawry for Banking Technology and Electronic Payments (FWRY) have announced a strategic alliance to integrate Contact's buy-now-pay-later (BNPL) services into Fawry's nationwide payment ecosystem. This collaboration aligns with Egypt's national strategy to accelerate digital transformation, reduce cash dependency, and enhance financial inclusion. The partnership will expand access to fintech solutions such as E-Payment Gateways and bill aggregation services, creating a seamless payment experience for consumers and merchants. Ghada Tayel, Contact's Head of Products & Business Development, emphasized the partnership's role in broadening their market penetration by leveraging Fawry's extensive merchant network. Heba El Awady, Fawry's Chief Business Officer, highlighted the initiative's potential to democratize financial services across diverse sectors. Fawry's recent financial performance underscores the partnership's promise, with 2024 net profits surging to EGP 1.74 billion from EGP 815.96 million in 2023.
Recommended Actions
- Consider buying CNFN/FWRY stocks on dips if aligned with long-term fintech trends
- Monitor Fawry's Q3 2024 performance for profit sustainability
- Hold positions if already invested in Egyptian fintech sector
- Watch Central Bank of Egypt's digital payment policies
- Track merchant adoption rates of BNPL solutions
Positive Aspects
- BNPL expansion through Fawry's vast network
- Fawry's 113% year-on-year profit growth
- Alignment with Egypt's digital economy vision
- Enhanced financial service accessibility
Negative Aspects
- Potential market saturation risks
- Execution challenges in scaling BNPL adoption
Recent News
January 22, 2024 at 12:37:00 PMGiza Contracting Secures EGP 539 Million Mega-Contract for New Aswan City Development
July 3, 2024 at 10:22:00 AMLink Holdco Trims Fawry Stake Amid Block Trade Surge
March 10, 2024 at 12:07:00 PMRaya Holding Soars to EGP 564M Profit in 2023 Amid Revenue Surge
May 29, 2024 at 10:36:00 AMRaya Holding Soars with 131% Profit Surge in Q1-24 Amid Standalone Losses
GGCC
GIZA GENERAL CONTRACTINGEgyptian construction giant lands major infrastructure deal while navigating revenue challenges in 2023 financials
FWRY
FAWRY FOR BANKING TECHNOLOGY AND ELECTRONIC PAYMENTLink Holdco reduces Fawry stake to 4.99% following a EGP 1.02B block trade; Q1 profit surges 135% YoY.
RAYA
RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports a 34% profit surge to EGP 564M in 2023, driven by revenue growth, but standalone losses widen.
RAYA
RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports soaring Q1-24 consolidated profits but faces standalone losses as revenues and assets grow.
