Egypt's Fawry launches Tamweelak Fawry Digital Lending Platform

Fawry Microfinance, an Egyptian microfinance bank, has finally decided to be tech-enabled, by launching a digital lending platform. The company launched a mobile application, which is meant to be easy to navigate due to its simple design, while it also comes with a tracking tool.

The mobile application is meant to satisfy the needs of Fawry’s clients (micro and small businesses) as they can now request loans and receive credit conveniently and timely.

While speaking with journalists about the launch of this product service, Fawry Microfinance’s Chief Executive Officer, Alexander Levchenko, explained the launch is in Fawry’s effort to embrace digitalization in its everyday activities and processes.  “We are thrilled to introduce the Tamweelak Fawry app to the Egyptian market. The app marks yet another milestone in our efforts to create a digitalized platform for the market and drive financial inclusion by creating and distributing the most convenient financial tools. With Tamweelak Fawry, we’re one step closer to providing the benefits of accessible, fast, and secure financing for smaller projects in a way that guarantees maximum protection for businesses and individuals, while contributing to the social mission of achieving sustainable growth,” he noted.

Tamweelak Fawry, the mobile application of the microfinance bank, is a loan calculator tool. The platform is designed to assist users by helping them locate a proper and suitable product service for their business. It allows an optimal instalment schedule which help makes the loan request and refund flexible.

The mobile application also provides instant reminders for any upcoming refund due dates and immediate updates on outstanding loan balances.