Over 1 Million Egyptian Students Have Paid Their School Fees Using Fawry
For a more financially inclusive educational system, the Egyptian fin-tech startup joined hands with the government to make this possible.
Egypt's Ministry of Education has announced that, as of September 30th, more than one million students have paid their school fees through the Fawry e-payment system since the service was activated this year, reports Ahram Online. This comes as part of Fawry's partnership with the ministry backing Egypt's vision for financial inclusion, says Mohamed Okasha, Fawry's managing director.
"Fawry was selected because it offers the easiest payment methods, since its service is accessible 24 hours a day and seven days a week, and is available in every street in all of Egypt governorates,” says Mohamed Omar, Deputy Minister of Education and Technical Education for Teachers' affairs.
Egypt's unbanked population accounts for up to 84% of Egypt's 100.8 million; a little over 20 million of whom are school students. Targeting bread-winning parents, Fawry and the Ministry of Education are on a mission to tighten this gap. There are 105,000 physical Fawry outlets all around the Egypt, however parents and students can also pay the fees through all bank e-wallets, mobile phones and the 'MyFawry' application.
This is not the first time Fawry has teamed up with the government. In May 2018, the fin-tech startup joined hands with the Egyptian Company for Metro Management and Operation to sell metro tickets.