“Fawry” .. “Tesla” Egyptian Stock Exchange


Fawry for Banking Technology and Electronic Payments Company continued its successive rise since its listing on the stock exchange in August 2019, to end the year 2020, up by 329.7%.

The share was not satisfied with that. Rather, it reached its highest level during the first week of this year at a price of 38.5 pounds, up during 3 sessions by 14.86%, an increase of 4.98 pounds.

The market value of Fawry increased to $ 1.7 billion, to be the third largest player in the market by market value.

Muhammad Okasha, the former managing director of the company and founder of the Disruptic Fund, revealed that Fawry’s successful march goes beyond large international companies such as the American company, Tesla, during the last decade.

He explained in a post on his Facebook page that the return on investment in Fawry over 10 years exceeded the investment in Tesla, as the return on investment in the Egyptian company reached 170 times, compared to 159 times for its American counterpart.

Last week, the Ordinary General Assembly of Fawry for Banking Technology and Electronic Payments approved a loan contract between the Fawry Microfinance Company and the Egyptian American Enterprise Fund – the shareholder of the company, with a value of EGP 160 million, and agreed to increase the company’s issued capital with a free increase of 353.65 million. EGP to 453.65 million pounds.

The article «Fawry» .. «Tesla» The Egyptian Stock Exchange was written in the stock exchange newspaper.