Zoho Corp. Partners with Fawry to Drive Egypt’s Digital Economy – Fintech News Egypt

Zoho Corp Reports 33% Revenue Growth and Strengthens Partnership with Fawry to Drive Egypt’s Digital Economy

October 24, 2024 – Cairo, Egypt: Zoho Corp., a leading global technology company, has announced a 33% increase in revenue and a 23% growth in its channel partner network in Egypt since 2023. The announcement was made during Zoholics Egypt, the company’s annual user conference, and reflects the steady rise in adoption of Zoho’s business solutions in the country.

In a key development, Zoho revealed a strategic partnership with Fawry Business, Egypt’s leading e-payment solutions provider. Through this collaboration, Zoho will allocate up to $35 million in wallet credits to support the digital transformation of over 70,000 businesses within Fawry’s network. The partnership underscores both companies’ commitment to advancing Egypt’s digital economy and providing local businesses with cutting-edge tools to enhance operations and growth.

Expanding Operations in Egypt

Zoho’s growth in Egypt comes as more businesses in the region embrace digitalization and modern technologies to stay competitive. The company’s revenue growth, alongside an expanding local partner network, highlights the increasing demand for its comprehensive suite of cloud-based applications.

“Egypt’s vibrant market, rich in talent and innovative ideas, offers businesses a prime opportunity to stay ahead of the curve,” said Hyther Nizam, President, Middle East and Africa (MEA) at Zoho. “Our products are designed to drive efficiency, enhance customer experiences, and promote sustainable growth. This year’s growth reflects the maturing technology ecosystem in Egypt and the strong demand for innovative solutions.”

Commitment to Localized Solutions

Zoho’s success in Egypt can be attributed to its strategy of “transnational localism,” which emphasizes global operations while deeply understanding and adapting to local markets. By prioritizing the localization of its products and services, Zoho has effectively catered to the specific needs of Egyptian businesses.

Zoho’s top products in Egypt include Zoho One, Zoho Workplace, Zoho CRM Plus, Zoho People, Zoho Desk, and Zoho Books. The company continues to offer local customer support, Arabic-language apps, and flexible pricing plans tailored to the local market, ensuring affordable access to its services without the burden of currency conversions or fluctuating exchange rates.

Empowering Egyptian Businesses

As part of its partnership with Fawry, Zoho will provide wallet credits to new customers, allowing them to utilize any of its 55+ cloud applications for nearly a year at no cost. This initiative is aimed at lowering the barriers to technology adoption for Egyptian enterprises and fostering a more digital-savvy business ecosystem.

“Zoho is committed to empowering businesses globally through digital transformation. By partnering with Fawry, we are supporting Egypt’s digitalization journey and equipping businesses with the tools they need to thrive,” said Premanand Velumani, Associate Director, Strategic Growth, MEA at Zoho.

Mohamed Kamel, Head of Business Development at Fawry, echoed this sentiment, adding, “This collaboration reflects our commitment to fostering a digitally empowered business ecosystem in Egypt, where businesses of all sizes can thrive in the evolving market.”

Supporting Regional Digitalization

Zoho’s investment in Egypt aligns with the company’s broader regional strategy, which includes supporting government-led digitalization agendas such as Saudi Vision 2030, the UAE Digital Economy Strategy, and Jordan’s Economic Modernization Vision. By forming strategic partnerships across the region, Zoho continues to lower the entry barriers to cloud technology, enabling businesses of all sizes to streamline their operations and scale efficiently.

The partnership with Fawry is expected to significantly contribute to Egypt’s growing digital economy, empowering local enterprises to achieve sustainable growth through innovative technological solutions.

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