Zoho Allocates $35 Million in a joint partnership with Fawry to Digitally Empower Businesses in Egypt

Zoho Corp., a leading global technology company, announced a remarkable 33% revenue growth and a 110% increase in its channel partners in Egypt since 2023, highlighting the significant adoption of its business solutions. This announcement was made during Zoholics Egypt 2024, Zoho’s annual user conference, where Zoho Corp., and Fawry, Egypt’s leading e-payments solution provider, signed a Memorandum of Understanding (MoU) to accelerate the digitalization of Egyptian businesses, where Zoho will allocate up to $35 million in wallet credits to support Fawry’s extensive network of 70,000 businesses, empowering them to adopt digital tools that enhance operational efficiency and promote sustainable growth. This partnership underlines both companies’ commitment to advancing Egypt’s digital economy and supporting local enterprises with cutting-edge technological solutions.

Business Growth in Egypt

Zoho announced growth in its operations in Egypt, achieving a remarkable revenue increase and significant expansion of its local partner network in 2023. The growth comes as more businesses in Egypt seek to digitalize their operations, abandon costly competition, and adopt the latest technology.

“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. The remarkable market expansion Zoho witnessed this year underscores the increasing maturity of Egypt’s technology ecosystem and the strong demand for innovative solutions,” said Hyther Nizam, President of Middle East and Africa (MEA) at Zoho.

This remarkable achievement underscores Zoho’s unwavering commitment to transnational localism, a strategy that involves operating globally while deeply understanding and adapting to local markets. By prioritizing the localization of its products and services, Zoho has been able to address the specific needs and preferences of businesses in Egypt. This strategic approach has enabled Zoho to build strong relationships with customers and partners in the local market, fostering trust and driving sustainable growth. Zoho’s top products in Egypt are Zoho One, Zoho Workplace, Zoho CRMPlus, Zoho People, Zoho Desk, and Zoho Books.

Stemming from this strategy, Zoho also continues to offer localized customer support, Arabic-supported apps, and flexible pricing plans tailored to the specific needs of local businesses. The company’s localised pricing strategy ensures businesses can access Zoho’s services at a fair and affordable cost without the added complexities of currency conversions or fluctuating exchange rates.

Empowering local businesses in Egypt

In a signing ceremony that took place during Zoholics Egypt, Fawry and Zoho Corp., signed an MoU marking a significant collaboration aimed at digitally transforming the business landscape in Egypt. Through this strategic partnership, Zoho will allocate up to $35 million in wallet credits over the next few years, enabling over 70,000 businesses in Fawry’s extensive network to embrace digital solutions. The joint effort combines, Zoho’s comprehensive suite of cloud-based applications with Fawry’s leadership in digital payments will provide new customers with wallet credit access of $500 (more than EGP 24,000) to utilize any of its 55+ applications free of charge for one year. This initiative will not only make technology more accessible for businesses but also accelerate their digital transformation by integrating Fawry Business’s digital payment solutions with Zoho’s software tools.

Commenting on the MoU signing, Mohamed Kamel, Head of Business Development at Fawry, said:”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.”

“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 digitalization journey and equipping businesses with the tools they need to succeed,” said Premanand Velumani, Associate Director, Strategic Growth, MEA at Zoho. “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,” Velumani added.

This partnership between Zoho and Fawry represents a significant step towards fostering digital transformation within Egypt’s business ecosystem. By combining Zoho’s extensive suite of cloud-based applications with Fawry’s expertise in digital payment solutions, both companies are dedicated to empowering local enterprises to operate more efficiently, scale sustainably, and thrive in an increasingly digital economy. Together, Fawry and Zoho aim to drive innovation and provide businesses with the tools necessary to succeed in the evolving market landscape, reinforcing their shared commitment to advancing Egypt’s digital economy.