Egypt 🇪🇬 #founders


Founder/CEO, Fawry

Ashraf Sabry is the CEO and founder of Fawry, Egypt’s largest e-payments platform, valued at more than $2 billion. After a career spanning two decades at IBM Egypt and investment conglomerate Raya Holding, Sabry decided to set up his own company for e-payments and banking technology in 2008. Today, Fawry — whose stakeholders include the National Bank of Egypt — helps around 35 million banked and unbanked Egyptians pay their bills each month. In recent years, the company has gone from strength to strength, launching Fawry Microfinance, a subsidiary tasked with improving financial services for entrepreneurs, in 2018, and, in 2019, Sabry and his team took the company public on the Egyptian stock exchange. In January this year, it teamed up with Misr Capital investments to launch the Middle East and North Africa region’s first fintech-based money market fund.

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