Fawry Announces First International Investment with Minority Stake in Sudan’s Leading Digital Marketplace
Fawry for Banking Technology and Electronic Payments has disclosed details of its first international investment, acquiring a minority stake in Sudan’s largest digital classifieds and e-commerce platform, Cashi (alsoug.com).
In a statement to the Egyptian Exchange (EGX) on Tuesday, Fawry said the move aligns with its broader strategy to support financial inclusion and fintech innovation across high-potential emerging markets.
This investment marks Fawry’s first venture outside Egypt and is part of Sudan’s first international venture capital funding round, which also included European and American institutional investors, according to the disclosure.
While the company did not disclose the size or value of the acquired stake, it clarified that the transaction does not fall under Article 44 of the EGX’s listing rules, which governs significant acquisitions.
Founded in 2016 by a group of tech entrepreneurs, Cashi (alsoug.com) has grown into Sudan’s largest online marketplace and one of the most downloaded mobile applications in the country, with over 2 million installs on Google Play.
Fawry’s strategic move is expected to deepen its regional footprint and foster greater digital transformation and financial inclusion across underserved markets in Africa.