Back to the complete issue
Tuesday, 28 February 2023

Cross-border payments, bill payments are getting easier for Egyptians in the UAE thanks to Fawry + Botim

FINTECH-

Fawry + Botim collab to help Egyptians in UAE to make cross-border payments, pay bills: Local e-payments giant Fawry and Gulf voice-calling app Botim are partnering to allow Egyptian expats residing in the UAE to pay bills and send home remittances, according to a joint press release (pdf). Users will be able to make money transfers or pay invoices due in Egypt — including utility bills, school and university fees, and medical and social ins. — through the Botim app. Botim was acquired by Emirati firm Astra Tech last month.

MANUFACTURING-

Temry Chicken will build an EGP 150 mn poultry factory in Sharqiya Governorate, that will produce 300 tons of chicken per month, company head Mahmoud Al Anani was quoted as telling Al Mal. Construction will begin by the end of this year, with plans for the factory to start operations by the beginning of 2025, Al Anani said.

NBFS-

Farmers will now be able to get loans via e-Finance: State-owned tech company e-Finance has obtained the central bank’s approval to provide financing to farmers via the Agriculture Ministry’s smart farmers card, Al Borsa reported, citing statements by Chairman Ibrahim Sarhan. He said farmers will be able to receive loans guaranteed by their agricultural holdings through the card, which is issued by e-Finance on behalf of the Agricultural Bank of Egypt.

Integrating agriculture: The card allows farmers to receive subsidized fertilizers, access agricultural data, and make digital payments and purchases.

TECH-

To space via China: Egypt has launched its Horus 1 satellite, which is equipped with a high-resolution camera, from a Chinese launch site, Egyptian Space Agency CEO Sherif Sedky said in a televised interview last week (watch runtime: 5:27).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.