Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFID.L on the London Stock Exchange), a leader in the Egyptian packaged snack food market, is pleased to announce that its subsidiary, Edita Trade and Distribution has partnered up with Fawry, the leading provider of e-payment services in Egypt, to facilitate cashless collections across Edita’s points of sale.
Through this partnership Edita will be able to deploy Fawry’s fintech solutions to transform its trade cash management processes, enabling the company’s distribution and retail partners to deposit sales funds through Fawry’s e-payment network, which has extensive reach across Egypt. The integration of Fawry’s cutting-edge e-payment services will not only facilitate cashless collections by Edita’s sales representatives, but also enhance the overall performance of its trade cash cycle, streamline financial transactions, and drive Edita’s operational efficiency to new heights.
This strategic move to digitalize a key aspect of the company’s operations aligns with Edita’s strategy to implement digital transformation and efficiency projects as one of the key pillars of its ESG strategy; and is in line with global trends in digital payments and promoting a more sustainable and environmentally responsible business model.
Commenting on the agreement, Edita’s Chairman Hani Berzi said, “We are very pleased to announce our partnership with Fawry, Egypt’s leading provider of e-payment services, who will help Edita digitalize cash collection across its merchant network, improve trade cash management and enhance overall operational efficiency for our business. This is a crucial step toward advancing digital transformation across our organization, which is a key pillar of Edita’s ESG strategy. We look forward to working with the team at Fawry and to realizing our strategic objectives through this partnership.”
Edita Trade and Distribution currently boasts an expansive sales and distribution network, featuring 55,000 points of sale, 26 distributions centers, 1,065 fleets, and 900 sales representatives.