Egypt: Mohamed Okasha steps down as MD of Fawry to launch a $25mln fund to support early-stage companies
Monday, 30 March 2020 16:40
Mohamed Okasha (pictured), co-founder and Managing Director of Egyptian e-payment company Fawry announced he is stepping down from his position on April 1, 2020, to launch a $25 million investment fund that will help Egyptian fintech companies in their early and growth stage. No further details have been given about how the fund will be managed.
Mohamed Okasha has 25 years of experience in the retail and marketing sector. Before joining Fawry's management in 2009, he worked for the telecom company Vodafone and the firm Raya in Egypt. Although he will no longer be Fawry’s MD, Mr. Okasha will remain a member of the company’s Board of Directors, according to media sources.
Chamberline Moko
Live News
-
The Rice Paradox: Côte d’Ivoire Produces More Rice, but Imports Hit 1.62M Tonnes in 2024
17:27
-
Gabon’s Bourdon Oil Project Moves Toward Investment Decision
17:00
-
Egypt Pays Down $5 Billion in Arrears to Foreign Oil Firms, Aims to Slash Remainder by Mid-2026
16:57
-
Weekly health update | Mpox no longer considered a continental public health emergency
13:17
-
Egypt’s Knot uses AI to overhaul online ticketing systems
10:53
-
AFD pledges CFA115bn to five priority development projects in Cameroon
03:44
-
Camwater signs CFA1.175bn insurance deals with AFG Assurances, Zenithe
03:42
-
Togo reshuffles cabinet, names Loukou-Kadjé at transport and recalls Tengue to maritime economy
03:36
-
Douala plans CFA367mln waste transfer center to cut collection costs
03:33
-
Cameroon’s export revenues rise 14% in H1 2025, driven by cocoa
03:30
The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...
Nigeria licensed Amazon’s Project Kuiper to operate satellite services from 2026, setting up dir...
Microfinance deposits in Togo increased by CFA11.9 billion, a 2.7% rise in the second quarter of 2...
Orange Côte d’Ivoire, with Eutelsat, introduced satellite internet to reach rural and underserve...
Rice consumption surges in Côte d’Ivoire, driven by urbanization and dietary shifts Domestic output rises but fails to meet nearly 3 million-ton...
Panoro plans three-well initial development pending investment approval Project builds on active Dussafu Marin block, producing about 30,500 bpd The...
Egypt repays about $5 billion in foreign oil and gas arrears Government aims to cut remaining arrears to $1.2 billion by 2026 Payments...
Africa CDC has ended mpox’s continental emergency status, moving toward a longer-term, country-led response. Ethiopia is nearing the threshold for...
Three African productions secured places among the 22 films competing for the Golden Bear at the 76th Berlin International Film Festival. Berlinale...
Ambohimanga is a hill located about twenty kilometres northeast of Antananarivo, in Madagascar’s Central Highlands. It holds a central place in the...