Zoho Records 33% Revenue Growth in Egypt and Allocates $35 Million in a joint partnership with Fawry to Digitally Empower Businesses
Zoho Corp., a leading global technology company, today revealed a revenue growth of 33% and 23% increase in its channel partner in Egypt since 2023, which reflects steady growth in adoption of its business solutions. During a press conference at Zoholics Egypt, the company announced an agreement with Fawry Business, Egypt’s leading e-payments solution provider, where it will earmark up to $35 million in wallet credits to enable the digitalisation of over 70,000 businesses under Fawry’s network in Egypt.This partnership underlines both companies’ commitment to advancing Egypt’s digital economy and supporting local enterprises with cutting-edge solutions.
Business Growth in Egypt
Zoho announced growth in its operations in Egypt, achieving revenue increase an expansion of its local partner network in 2023. The growth comes as more businesses in Egypt seek to digitalise their operations, abandon costly competition and adopt latest technology.
“Egypt’s vibrant market, with its abundant talent and innovative ideas, presents a prime opportunity for businesses seeking to stay ahead of the curve. Our products are ideally suited to help companies in Egypt drive efficiency, enhance customer experiences, and achieve sustainable growth. The growth Zoho witnessed this year underscores the increasing maturity of Egypt’s technology ecosystem and the strong demand for innovative solutions,” said Hyther Nizam, President, Middle East and Africa (MEA) at Zoho.
This achievement underscores Zoho’s unwavering commitment to transnational localism, a strategy that involves operating globally while deeply understanding and adapting to local markets. By prioritising localisation of its products and services, Zoho has been able to address the specific needs and preferences of businesses in Egypt. This strategic approach has enabled Zoho to build strong relationships with customers and partners in the local market, fostering trust and driving sustainable growth. Zoho’s top products in Egypt are Zoho One, Zoho Workplace, Zoho CRMPlus, Zoho People, Zoho Desk, and Zoho Books.
Stemming from this strategy, Zoho also continues to offer localised customer support, Arabic-supported apps, and flexible pricing plans tailored to the specific needs of local businesses. The company’s localised pricing strategy ensures that businesses can access Zoho’s services at a fair and affordable cost, without the added complexities of currency conversions or fluctuating exchange rates.
Empowering local businesses in Egypt
In a signing ceremony that took place during Zoholics Egypt, Zoho’s annual users conference, the company signed a Memorandum of Understanding (MoU) with Fawry Business, where it will allocate up to $35 million in wallet credits over the next few years to digitally enable over 70,000 businesses within Fawry’s extensive network. Combining Zoho’s comprehensive suite of cloud-based applications with Fawry’s leadership in digital payments, Fawry will provide new Zoho customers with free access to utilise any of its 55+ applications for almost one year at a provided wallet credit balance. This aims to ease technology adoption for enterprises and prompt a more digital-savvy business ecosystem in Egypt.
“Zoho is committed to empowering businesses globally through digital transformation. By partnering with Fawry in Egypt, we aim to take part in accelerating the nation’s digitalisation journey and equipping businesses with the tools they need to succeed,” said Premanand Velumani, Associate Director, Strategic Growth, MEA at Zoho. “Our focus on creating tangible impact ensures that Egyptian entrepreneurs can innovate and grow without being burdened by the complexities of operations. This also contributes to bringing about a more prosperous and interconnected future for Egypt,” Velumani added.
Commenting on the MoU signing, Mohamed Kamel, Head of Business Development at Fawry, said: “Fawry has always been at the forefront of advancing digital payment solutions for businesses in Egypt. Partnering with Zoho allows us to expand our commitment to supporting local businesses by equipping them with cutting-edge technological tools to enhance their operations and drive growth. 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.”
This partnership between Zoho and Fawry represents a significant step towards fostering digital transformation within Egypt’s business ecosystem. By combining Zoho’s extensive suite of cloud-based applications with Fawry’s expertise in digital payment solutions, both companies are dedicated to empowering local enterprises to operate more efficiently, scale sustainably, and thrive in an increasingly digital economy.
Zoho has allocated millions in investments towards aligning with various government digitalisation agendas across the region including Saudi Vision 2030, UAE Digital Economy Strategy and Jordan’s Economic Modernisation Vision. Through local strategic partnerships, the company has helped in lowering the entry barrier to technology and enabling businesses of all sizes to run all their operations on the cloud.
