Fawry, Egypt’s e-payment network has just announced the expansion of the ‘Heya Fawry’ initiative to increase poor and disadvantaged women’s access to life-enhancing digital financial services and greater economic opportunities.
Now on its third consecutive year, Heya Fawry’s expansion aims to help more women gain access to greater job opportunities by becoming Heya Fawry agents, create new revenue streams and provide life-enhancing financial services to predominantly unbanked female customers.
“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.
Fawry is collaborating with Unilever, Lead Foundation and funding support from the British Foreign, Commonwealth & Development Office (FCDO) via the Arab Women’s Entreprise Fund Program (AWEF).
The second phase of the initiative saw Lead Foundation, a preeminent Egyptian Microfinance Institution, design a dedicated Heya Fawry Microfinance Program which avails microloans to selected beneficiaries, via digital means.
The first phase of the Heya Fawry initiative built upon synergies between four “Core Partners”, Fawry, AWEF, AXA Insurance who offered medical and life insurance services free of charge for 3 years, as well as Unilever, who trained Heya Fawry agents to become successful retailers of well-known home care, beauty and food brands.
To date, Heya Fawry initiative successfully 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 offered support to Egyptian women in the poorest areas in Cairo, Giza, Assiut, Fayoum and Minya, by financing the initial capital needed to become an Fawry agent and raising their capabilities as micro-entrepreneurs. The initiative not only seeks to enhance women’s digital and financial skills but also their ability to successfully manage projects, secure profits and expand their networks and is in line with Egypt’s strategy and 2030 vision.