Introduction
At the Zoholics Egypt event, Zoho unveiled a strategic partnership with Fawry Business, a leading provider of banking technology and electronic payments in Egypt. The partnership underscores Zoho’s commitment to expanding its presence in Egypt, which has seen a significant 33% growth in revenue since 2023. During this period, Zoho also increased its ecosystem of channel partners by 23%, bolstering the company's ability to support local businesses with digital transformation.
Growth of Zoho’s Channel Partner Ecosystem
The partnership expansion now brings Zoho’s number of consulting partners in Egypt to 17, alongside two global system integrators (GSIs) operating within the region. Among its notable partners are ElitBuzz Technologies and Cloudpedia, who have been part of Zoho’s ecosystem for over a decade. Zoho has also forged new partnerships, including Paraguru, which joined as an authorized partner two years ago. The presence of these partners reflects Zoho’s growing commitment to Egypt’s business environment as the country accelerates its digitization efforts in line with its Vision 2030 strategy.
Egypt’s Vision 2030: A Path Toward Digitization
Egypt's Vision 2030 sets out a comprehensive strategy with three key pillars: enhancing digital infrastructure, improving the regulatory environment, and fostering innovation. The government has made significant investments in internet speed upgrades and the creation of online portals to drive citizen engagement. Businesses in Egypt stand to benefit from this increased focus on digitization, with cloud technology solutions from Zoho offering them a competitive edge.
Hyther Nizam, President of Zoho MEA, remarked on the country's business potential, saying, "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’s Strategy for Global Growth
Zoho’s success in Egypt can be attributed to its strategy of “Transnational Localism,” which ensures that its solutions are fully localized for each national market. In Egypt, top products such as Zoho One, Zoho CRMPlus, Zoho People, Zoho Desk, and Zoho Books have been adapted to meet the needs of local businesses. Zoho’s eSignature solution, for example, complies with Egypt’s e-signature regulations, showcasing the company’s ability to adapt to local legal frameworks.
This local adaptation extends beyond product offerings, with Zoho supporting its partners with flexible pricing plans and localized support, making it easier for businesses to integrate Zoho’s solutions into their operations.
Fawry and Zoho: Empowering Businesses with Financial Services
Fawry, established in 2008, is Egypt’s leading provider of e-payment and digital finance solutions, serving over 35 million users and 70,000 businesses. As part of the partnership, Zoho has earmarked $35 million in wallet credits to be distributed to businesses within Fawry’s network over the next five years. These credits will allow businesses to access over 55 Zoho apps for up to a year at no cost, enabling them to digitally transform their operations with minimal financial burden.
This collaboration will help Zoho expand its footprint across Egypt by leveraging Fawry’s extensive customer base. The memorandum of understanding (MoU) signed at Zoholics signifies the determination of both companies to contribute to Egypt’s digitization journey. Whether the $35 million credit will last five years remains uncertain, but Zoho is optimistic that businesses will continue using its services even after the credits are exhausted.
Premanand Velumani, Associate Director of Strategic Growth at Zoho MEA, emphasized Zoho’s commitment to empowering businesses globally through digital transformation. "By partnering with Fawry, we aim to accelerate Egypt’s digitization journey and equip businesses with the tools they need to succeed."
Fawry’s Vision for a Digitally Empowered Business Ecosystem
Mohamed Kamel, Head of Business Development at Fawry, highlighted the partnership’s potential to drive growth for local businesses. "Fawry has always been at the forefront of advancing digital payment solutions in Egypt. Partnering with Zoho allows us to further support local businesses by providing them with cutting-edge technology to enhance their operations," Kamel said.
Zoho’s Continued Investment in the Middle East
Zoho’s collaboration with Fawry is part of a broader effort to expand across the Middle East. Zoho has already entered into partnerships with various government agencies and non-profits in the region, aiming to align with national digitization goals such as Saudi Vision 2030, the UAE Digital Economy Strategy, and Jordan’s Economic Modernization Vision. By offering wallet credits and localized software solutions, Zoho continues to strengthen its foothold in key markets across the region.
A Strategic Partnership with Long-Term Benefits
The partnership between Zoho and Fawry promises to accelerate Egypt’s digital transformation, offering businesses the technology they need to thrive in an increasingly digital world. For Fawry, the partnership enhances its competitive edge, while Zoho solidifies its presence in a growing market. Egyptian businesses stand to benefit from these collaborative efforts, as the country’s ambitious Vision 2030 digital strategy takes shape.
