- Fawry says it will remain invested in Bosta even after the logistics startup’s planned listing on the Egyptian Exchange.
- Bosta is preparing to float 20%–30% of its shares on EGX, targeting roughly USD 170 million in proceeds.
- The fintech giant plans to expand SME financing alongside its collection and electronic payment services, citing strong growth opportunities across these segments.
Fawry
Egypt’s fintech giant, Fawry for Banking Technology and Electronic Payments S.A.E (Fawry), intends to continue investing in Bosta after its IPO. In an interview with Asharq Business, Fawry CEO & Managing Director, Ashraf Sabry, confirmed that the company will continue investing in Bosta even after its planned listing on the Egyptian Exchange (EGX).
Bosta
According to Asharq’s sources, Bosta is preparing to offer between 20% and 30% of its shares on the Egyptian Exchange by the end of the year. The listing is expected to raise around USD 170 million (EGP 8B).
Founded in 2017 by Mohamed Ezzat and Ahmed Gaber, Bosta is an Egyptian logistics startup. It specializes in technology-based shipping and logistics solutions for e-commerce businesses.
In the interview, Sabry added that Fawry will continue expanding its small and medium-sized enterprise (SME) financing services. It will also continue expanding its collection and electronic payment businesses. The CEO further notes that he sees significant opportunities in these areas.
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