Fawry partners with WFP for cutting-edge multi-purpose cash-assistance platform in Egypt

Fawry partners with WFP for cutting-edge multi-purpose cash-assistance platform in Egypt

By Press Release, 04 June 2023

CAIRO – Egypt’s leading financial service provider, Fawry and The United Nations World Food Programme (WFP) renewed today their partnership agreement for the use of cutting-edge and secure financial service platforms to deliver WFP cash assistance nationwide.

WFP and Fawry’s long-lasting partnership since 2016, has enabled WFP-to support communities and individuals to securely access cash assistance through SMS (Short Message Service) vouchers or cash cards, redeemable at over 310,000 points of sales across all governorates.

Cash assistance is critical at a time of sudden onset emergencies, enhancing WFP’s capacity to transition quickly from food to cash via a secure, reliable and effective rapid delivery service. This has been amply demonstrated in the recent and ongoing Sudanese crisis – WFP is the first UN agency on the ground providing cash to vulnerable people fleeing Sudan enabling them to secure their basic needs.

The established WFP-Fawry cash delivery platform has been expanded to serve as a unified multi-purpose cash assistance service that is offered to all the UN agencies, allowing them to securely, quickly and timely deliver much-needed assistance to people in need. This reduces transaction costs, increases the benefit not only to the vulnerable people but also to the local communities and markets.

“We are thrilled to see this long-time partnership going to the next level in its development and takes shape at a time within the current context, where the benefits will be immediate, people will be better serviced, they will have the freedom of choice and most importantly we will, through technology, enhance and secure in an efficient manner the support to people wherever they may be. This is a game-changer, not only for WFP, but for the country and all our UN and development partners that now have a means by which to immediately reach the vulnerable population” said WFP Representative and Country Director in Egypt, Praveen Agrawal.

Furthermore, WFP with Fawry has developed this platform over six years and serviced thousands of vulnerable under WFP’s different programs which now can be taken to new heights shifting the burden away from the vulnerable populations.

Read more: E-Payment Platform Fawry, Strives for Financial Inclusion of Banked and Unbanked Egyptians

“We are very excited to continue our strategic partnership with WFP, and we affirm Fawry’s commitment to fully support the program’s activities and work hand in hand to achieve its endeavors in Egypt through our most widespread channels and solutions. Besides, we are also open to cooperation with all international organizations to help achieve their goals in improving the lives of citizens, which is an integral part of the social responsibility role of 'Fawry'.” said Chief Commercial Officer of 'Fawry', Hossam Ezz.

“Through partnership with the World Food Programme, we aim to use digital transformation and financial technology to serve WFP projects in Egypt, as part of returning the favor to communities and groups most in need. In addition to that, this cooperation puts us at the center of international efforts to combat hunger and achieve positive change and long-term sustainability in light of the current conditions in the international community.” added Commercial Director at 'Fawry', Ahmed Fahmy.

Related: IFC on Fostering Financial Inclusion via Fintech Investments in Africa

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