Fawry (FWRY.CA on the Egyptian Exchange), Egypt’s leading fintech company, has announced strategic investments worth EGP 80 million in three prominent Egyptian technology companies: Dirac Systems, Virtual CFO, and Code Zone, acquiring equity stakes of 51.0%, 56.6%, and 51.0%, respectively
. These investments align with Fawry’s strategy to expand its “Fawry Business” suite, reinforcing its leadership in Egypt’s fintech and technology sectors while enhancing digital services for businesses.
Dirac Systems specializes in Enterprise Resource Planning (ERP) and business automation, helping companies optimize operations.
Virtual CFO provides financial and accounting services for SMEs and startups, focusing on compliance and cash flow management. Code Zone develops software solutions for CRM, HR, financial management, and enterprise operations, particularly in the healthcare sector.
Eng. Ashraf Sabry, CEO of Fawry, emphasized that these investments solidify Fawry’s position as a comprehensive digital business solutions provider, integrating ERP, financial management, digital payments, and HR solutions. This move aligns with Egypt’s digital transformation and cashless economy initiatives while supporting local tech innovation.
Eng. Mohamed Hamed, CEO of Dirac Systems, highlighted that this partnership will scale ERP solutions and offer integrated digital tools to enhance financial and operational efficiency. Ahmed Farouk, CEO of VCFO, stated that the collaboration will enhance financial operations, cash flow management, and electronic invoicing, driving business efficiency. Eng.
Mohamed Youssef, CEO of Code Zone, emphasized that merging Code Zone’s software expertise with Fawry’s fintech leadership will create advanced and integrated digital solutions for businesses.
Through these investments, Fawry aims to accelerate technological innovation, streamline financial operations, and empower businesses across industries in Egypt.
