Waffarha Plans Gold and Silver Sales, Targets 50% Transaction Growth in 2027
Egyptian deals and digital services platform Waffarha plans to introduce gold and silver sales through its app within the next two months, in partnership with Dahab Masr, as part of a broader rollout of four to five new services aimed at diversifying its business and supporting growth in Egypt and Arab markets.
Tarek Magdy, Waffarha’s founder and CEO, told Fintech Gate that the company aims to increase transaction volume by 50% in 2027 compared with its expected total by the end of 2026, which is projected to exceed EGP 3.5 billion. The platform has already surpassed one million transactions per month.
Magdy said Waffarha also plans to expand its gift voucher services and introduce additional products and services in the first quarter of 2027. Some initiatives remain under development, with further details expected to be announced later.
Gold and silver purchases will be available through bank cards or cash on delivery, rather than consumer finance, Magdy said. He added that the company has received approval from the Central Bank of Egypt relating to the service, which will be delivered in partnership with Dahab Masr.
Waffarha is also preparing to work with major shopping mall groups in Egypt, integrating its digital solutions into partners’ apps. The arrangement would allow customers to access Waffarha services through additional digital channels instead of relying exclusively on the company’s main application.
More Than 3,000 Merchants
Waffarha currently works with more than 3,000 merchants operating over 15,000 stores. It aims to increase its merchant base by approximately 20% in 2027, expanding the reach of its services and offers.
The company operates in four markets: Egypt, Saudi Arabia, Oman and Bahrain. Magdy said its approach to entering new markets begins with its core deals and discounts business, followed by the introduction of additional services and business models tailored to local market conditions.
Waffarha’s main Egyptian app currently incorporates around six different business models. The company has not selected a specific additional country for expansion in 2027, with any decision dependent on opportunities that fit its strategy.
Funding and Investment Strategy
Magdy said Waffarha remains open to investment opportunities that provide strategic value, rather than raising capital solely to secure funding.
The company has previously attracted strategic investors, beginning with Egyptian payments company Fawry, followed by Saudi Arabia-based Value Makers Studio (VMS). Magdy emphasized that investment partnerships must contribute to business development or expansion.
Discussions about potential investments and collaborations are ongoing, but no new funding round has been agreed or finalized. Waffarha has not set a timetable for a potential round in 2027 and remains prepared to pursue suitable op