Domty collaborates with Fawry FMCG to enhance digital financial services solutions and financial inclusion
Cairo, Wednesday, 8 November 2023 – Fawry FMCG, the leading financial technology solutions provider for consumer goods companies, announced its collaboration with the Arabian Food Industries Company “Domty”, the leading food and beverage company. to provide solutions to facilitate electronic collection systems, digitize the food and beverage sector, and enhance financial inclusion in all sectors in the Egyptian market.
Under this agreement, “Domty” representatives will be able to deposit funds collected daily from merchants in “Fawry” branches covering all governorates of the Arab Republic of Egypt, as part of Fawry’s constant endeavor to enrich all sectors with an advanced set of financial technology solutions, especially the food and beverage sector, and spread the culture of digital transformation to achieve a cashless society.
“Fawry FMCG” is considered the first and largest electronic financial platform in Egypt that serves consumers and companies through various channels and thousands of service points throughout Egypt. “Fawry” FMCG platform currently serves more than 320 thousand merchants and more than 100 consumer goods companies, with the aim of digitizing Supply and demand processes, creating an ecosystem where the relationship between retailer, sales representative and the consumer goods company is seamless, digital and cashless.
Hossam Ezz, CEO of “Fawry FMCG” said: “We are very pleased to cooperate with the Arabian Food Industries Company “Domty.”
He added: “Fawry is also striving to enter into many agreements with companies and institutions that will contribute to spreading digital transformation and enhance electronic collection processes. Besides, “Fawry” is keen to provide the latest financial technology solutions to sales representatives to facilitate cash management methods.”
Mohamed El-Damaty, CEO and Vice Chairman of the Board of Directors of the Arabian Food Industries Company “Domty,” said: “Cooperating with “Fawry FMCG”, the first and most widespread consumer goods company in payment solutions, is an important step towards enhancing the digitization of our financial transactions with our merchants and distributors throughout Egypt”.
He added: “this cooperation develops and raises the efficiency of the distribution network and develop the performance of the sales team, so we are proud of this partnership, and we aim to expand the use of cash management technology as well as financial inclusion solutions.”
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