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
-
CEMAC Commission’s Unpaid Contributions Hit CFA263.5bn, With Cameroon Owing 23%
19:59
-
NSIA Repositions Its Brokerage Unit to Play Larger Role in African Financing
19:55
-
After Years of Silence, Cameroon Tries to Fix and Relaunch Its Farm Market Platform
19:50
-
Falling Cocoa and Oil Prices Add Pressure on Central Africa’s Export Earnings
19:27
-
After a Decade on the Ground, Camair-Co Returns to Saudi Route as It Tests a Broader Comeback
19:25
-
Liberia Prepares for Major Jump in Iron Ore Output as ArcelorMittal Scales Up
19:23
-
Facing Youth Job Pressures, Congo Launches Plan to Train 250,000 in Digital Skills
19:20
-
Glencore Chases Bigger Copper Output in Congo — but Sells Down Assets
19:17
-
Togo launches Assinyon digital marketplace to promote local products
17:05
-
Dakar Positions Itself as Gaming Hub Through Efest Africa Initiative
14:08
Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-s...
Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...
MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...
Ghana has 50,000 tonnes unsold cocoa at ports Cocoa prices fell from $13,000 to around ...
This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...
Production could rise to 25–30 million tons this year, from about 10 million in 2025 Growth driven by ArcelorMittal’s $1.8bn expansion and new...
First group of 500 trainees begins “train-the-trainer” program in Kinshasa 200 top performers will be selected to train others nationwide Five-year...
Agreement with Gécamines could extend KCC mine life into the 2040s Copper output target raised toward about 300,000 tons a year Move comes as Glencore...
Five local banks to mobilize CFA41.2bn ($74.4m) for Grand-Zambi mine Funding to be refinanced through BEAC’s “Window B” for productive...
“Dao” ranks among the three films in official competition at the 76th Berlinale and marks Alain Gomis’ second bid for the Golden Bear. The film...
Fort Jesus is a fortress located in Mombasa, on Kenya’s coastline, at the entrance to the natural harbor that long made the city a hub of trade in the...