Beltone Holding has announced that its subsidiary, Beltone Leasing and Factoring, has signed a leasing and factoring agreement with Madkour Group worth a total of EGP400 million ($8.22 million).

 

The agreement includes a sales and leaseback arrangement for Madkour Group's administrative unit assets at ‘Zizinia’ project in New Cairo, valued at EGP300 million. Additionally, the agreement provides EGP100 million in factoring to support the Group’s working capital needs and fuel the growth of its projects across the country. 

 

This partnership reaffirms Beltone’s commitment to providing financial support and advisory services to help companies achieve their expansion goals.

 

Customised financial services

Amir Ghannam, CEO of Beltone Leasing and Factoring, stated: "This agreement underscores our strategic approach to delivering customised financial solutions that empower companies across diverse sectors to drive their expansion plans. By fostering sustainable economic growth and creating job opportunities, it strengthens our leadership position in the leasing and factoring market."

 

Dr Mostafa Madkour, Chairman & CEO of Madkour Group, commented: "This is a significant step forward for Madkour Group, strengthening our financial position and enabling us to pursue new growth plans in various markets."

 

Beltone Leasing and Factoring is recognised as the fastest-growing company in Egypt’s financial leasing and factoring sector. It has secured a prominent market share and completed numerous deals with leading companies across various industries, including healthcare, education, real estate, manufacturing, construction, industry, transport, and logistics. With a paid-up capital of EGP1 billion, it is the largest financial leasing company in Egypt.--TradeArabia News Service