GoNabit to expand presence in Egypt

GoNabit targets its services at the 5.65 million Facebook users in Egypt. The company already operates daily deal websites in Dubai, Abu Dhabi, Beirut and a combined website for Sharjah, Ajman and Ras Al Khaimah,

GoNabit allows an entire group of customers to purchase the same goods or services, once the minimum agreed number of buyers enters the deal. The purchase can be made within a limited period of time of 48 hours or 72 hours. The completed transactions on GoNabit receive an e-voucher for the product or service to be redeemed directly with the merchant within an agreed time frame, normally four to six months.

GoNabit enables customers to share daily deals with their friends via email, Facebook or Twitter, as well as plan joint activities. It provides shoppers with the ability to make online purchases via credit cards and PayPal. They can also pay via bank transfer or direct payment at the local GoNabit office.

Egypts internet users spent an estimated USD 2.1 billion on e-commerce in 2009, according to the Arab Advisors Group. The number of credit card owners among the upper and middle-upper class in Egypt has increased to 72 percent in 2010 from 66 percent in 2009, according to a recent banking study conducted by the market research company Synovate.The use of credit cards among youth has also grown from 18 percent in 2009 to 33 percent in 2010.