Zoho has announced a new partnership with Fawry Business, which provides banking technology and electronic Payments in Egypt. The news came as Zoho held Zoholics Egypt this week. At the event, Zoho also announced that it has achieved 33% revenue growth in Egypt since 2023 and has increased its channel partner ecosystem by 23%.
The increase in channel partners means it now appears to have 17 consulting partners in Egypt and two global GSIs operating in the region. The partners include ElitBuzz Technologies and Cloudpedia, which have both been partners for over a decade. There is also a single Premium Partner in Wanas Apps.
However, Paraguru, an authorised partner for two years, is the newest partner listed. The other new partners may not have yet to undergo accreditation or appear on the partner finder for Egyptian companies.
The growth comes as Egypt has committed to accelerated digitisation within the country with its 2030 Vision of Egypt. The new strategy has three pillars: improving digital infrastructure, regulatory environment, and innovation capabilities. The government has invested in increasing internet speeds and creating online portals to drive engagement with citizens.
Businesses can take advantage of the type of new Cloud technology that Zoho provides. With partners who are eager to assist those businesses through their transformations.
Hyther Nizam, President, Middle East and Africa (MEA) at Zoho, commented, “Egypt’s vibrant market, with its abundant talent and innovative ideas, presents a prime opportunity for businesses seeking to stay ahead of the curve.
“Our products are ideally suited to help companies in Egypt drive efficiency, enhance customer experiences, and achieve sustainable growth.
Transnational Localism
Zoho strategy of Transnational localism is paying off. The strategy sees Zoho ensure that its solutions are localised for each national market and Egypt is no exception. The changes have allowed Zoho to ensure that its solutions work well for local businesses and partners in the Egyptian market. The top products in Egypt that are adopted by customers and localised for the market include Zoho One, Zoho Workplace, Zoho CRMPlus, Zoho People, Zoho Desk, and Zoho Books.
The approach includes support of Arabic across the portfolio. With flexible pricing plans suited to the specific needs and budgets of local businesses. Local support is also offered through partners, who are in turn supported by local resources.
One example of the localisation is that its eSignature solution complies with the Egyptian regulations for eSignatures, including:
- Regulating Electronic Signature (E-Signature) And Establishing The Information Technology (IT) Industry Development Authority, 2004 (ITIDA)
- The Executive Regulations, 2020 (“the Regulations”)
Empowering Egyptian Business through Fawry Business Financial Services
Fawry is the leading provider of e-payments and digital finance solutions in Egypt. Launched in 2008, it offers payment solutions to individuals and businesses. The firm now has a customer base of over 35 million users, including 70,000 businesses.
Zoho has earmarked $35 million in wallet credits that will be allocated over the next few years. This will be to the 70,000 businesses that are members of the Fawry Business network. The wallet credits enable businesses to access more than 55 Zoho apps for up to a year, free of charge.
This will mean that Fawry Business will help expand the Zoho footprint in the country. As firms look for eCommerce or other Zoho Apps that leverage payments and help digitise their business. The memorandum of Understanding that was signed at Zoholics, shows the determination of both firms to help drive digitisation across Egypt. Whether the $35 million investment will last that time is unknown. But Zoho will hope that customers will continue to use and pay for usage once those credits have expired.
Premanand Velumani, Associate Director, Strategic Growth, MEA at Zoho, said, “Zoho is committed to empowering businesses globally through digital transformation. By partnering with Fawry in Egypt, we aim to take part in accelerating the nation’s digitalisation journey and equipping businesses with the tools they need to succeed.
“Our focus on creating tangible impact ensures that Egyptian entrepreneurs can innovate and grow without being burdened by the complexities of operations. This also contributes to bringing about a more prosperous and interconnected future for Egypt.”
Mohamed Kamel, Head of Business Development at Fawry, commented, “Fawry has always been at the forefront of advancing digital payment solutions for businesses in Egypt. Partnering with Zoho allows us to expand our commitment to supporting local businesses by equipping them with cutting-edge technological tools to enhance their operations and drive growth. This collaboration reflects our commitment to fostering a digitally empowered business ecosystem in Egypt, where businesses of all sizes can thrive in the evolving market.”
Enterprise Times: What does this mean
Zoho continues to expand in Egypt across multiple fronts. It has offered wallet credits elsewhere in the continent. However, its agreement with Fawry Business is a first. It takes advantage of a solution that has already reached many of Zoho’s target customers.
For Fawry Business, this is a useful agreement that will also differentiate it from competitors, both local and foreign. As it continues its growth in the Egyptian market. For Egyptian businesses, this is good news. An integration between Fawry Payments and Zoho Solutions is not only welcome, but the lure of credits will also attract many new customers.
Zoho continues to invest in the Middle East, with similar agreements with Government agencies and non-profit organisations across the Region. These agreements aim to align Zoho with regional countries that are looking for digitalisation to support their economic power as fossil fuel revenues wane.
Zoho aims not only to provide the software solutions localised for businesses in these markets. It is also creating free wallet partnerships to support the initial adoption. Other governmental digitalisation agendas it supports, include Saudi Vision 2030, UAE Digital Economy Strategy and Jordan’s Economic Modernisation Vision.
