Fawry, Egypt’s leading digital transformation and e-payment network, has just announced the expansion of its ‘Heya Fawry’ initiative to increase poor and disadvantaged women’s access to life-enhancing digital financial services and greater economic opportunities, in line with its mission to empower Egyptian women.
Heya Fawry’s expansion is now in its third year, thanks to a cross-sector partnership involving Fawry, Unilever, Lead Foundation, and funding from the British Foreign, Commonwealth and Development Office (FCDO) through the Arab Women’s Entreprise Fund Program (AWEF).
“We are pleased with the great continued success that Heya Fawry has achieved, as well as its contribution to improve the conditions of low-income and disadvantaged women in Egypt.” We also stand with the Egyptian government to accelerate digital transformation and promote financial inclusion said Ahmed Fahmy, Head of Partnerships at Fawry.
Here Is What You Need To Know
- By becoming Heya Fawry agents, women will be able to obtain access to more work prospects while also delivering life-enhancing financial services to primarily unbanked female clientele. Finally, Heya Fawry generates new revenue sources for low-income women, allowing them to contribute more to their families’ financial well-being while also contributing to the Egyptian economy.
- Heya Fawry was joined in the second phase of the program by Lead Foundation, a leading Egyptian microfinance institution, which created a dedicated Heya Fawry Microfinance Program and provides microloans to selected recipients through digital methods.
“Believing in our mission to provide poor & low-income entrepreneurs, with sustainable access to quality microfinance services that address their needs, Lead Foundation saw in Heya Fawry a great opportunity that will suit the needs of ambitious female micro entrepreneurs who work from home or manage a shop.” said Sandy Salama, Marketing and Communications Manager at Lead Foundation.
- The Heya Fawry initiative’s first phase was based on synergies between four “Core Partners,” Fawry, AWEF, AXA Insurance, which provided free medical and life insurance for three years, and Unilever, which trained Heya Fawry agents to become successful retailers of well-known home care, beauty, and food brands.
- Between February 2019 and April 2021, the Heya Fawry initiative provided more than 300 job opportunities for female agents who allowed thousands of unbanked consumers, predominantly female, to conduct approximately 300 thousand e-payment transactions (of a total value worth EGP 10 million).
- Heya Fawry assisted Egyptian women in the poorest neighborhoods of Cairo, Giza, Assiut, Fayoum, and Minya by financing the initial cash required to become a Fawry agent and enhancing their micro-enterprise capabilities. The effort aims to improve women’s digital and financial skills, as well as their ability to manage projects, make money, and develop their networks.
- Finally, Heya Fawry is in line with Egypt’s strategy and 2030 vision to support small investors and traders while also advancing Egypt’s digital transformation and financial inclusion plans. In the future, Heya Fawry’s partners have stated that they intend to broaden the area of work available in order to involve more women in the next version of the project.
“Unilever is proud to participate in this distinguished initiative for the third year in a row. Unilever provides products to Heya Fawry agents, but we also work on developing their marketing & management capabilities, to ensure sustainable incomes,” said Islam Abdel-Raouf, Alexandria regional sales and Emerging Channels Sector Manager at Unilever.
Heya Fawry, women agents Heya Fawry, women agents
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
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