Egyptian dairy maker Juhayna for Food Industries signed a cooperation protocol with electronic payment platform Fawry to develop e-payment network with annual investments of 15 million Egyptian pounds (US$1.7 million).
Juhayna Deputy CEO, Seif El Din Thabet stated Tuesday that Fawry will be responsible for cash receipt collection over two phases; the first one for retailers while the second is for wholesale traders.
Fawry is a market-leading electronic payment platform, founded in 2008 and providing financial services to consumers and businesses all over Egypt.
Thabet clarified that electronic payment experience approves the potential of upgrading efficiency of sales system since it saves 10-15 percent of sales representatives’ time, thus, boosting sales volume with no need to increase representatives number.
On other side, Fawry CEO Ashraf Sabry noted that the project witnessed an integration between Fawry and Juhayna’s financial systems in a way that provides instant supervision on cash flow.
