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Fawry’s board nods for setting up consumer finance firm

The board of Fawry for Banking Technology and Electronic Payments gave the green light for establishing a new company, Fawry for Consumer Finance, at a capital of EGP 10 million.

Fawry will be contributing EGP 7.49 million to the capital, according to a disclosure to the EGX on Monday.

It is worth noting that Fawry achieved profits of EGP 137.15 million during the January-June 2021 period, compared to EGP 85.9 million in the same half last year.