Cairo – Mubasher: Beltone Leasing and Factoring, a subsidiary of Beltone Holding, has inked a leasing and factoring deal with Madkour Group at a value of EGP 400 million.
The agreement includes a sales and leaseback arrangement for Madkour Group's administrative unit assets at the Zizinia project in New Cairo, which is valued at EGP 300 million.
Moreover, the joint deal includes EGP 100 million in factoring to support the group’s working capital needs and fuel the growth of its projects across the country, according to a press release.
The partnership aligns with Beltone’s commitment to providing financial support and advisory services to enable companies to achieve their expansion goals.
Amir Ghannam, CEO of Beltone Leasing, stated: “By fostering sustainable economic growth and creating job opportunities, it strengthens our leadership position in the leasing and factoring market."
Mostafa Madkour, Chairman and CEO of Madkour Group, commented: "This a significant step forward for Madkour Group, strengthening our financial position and enabling us to pursue new growth plans in various markets."
With a paid-up capital of EGP 1 billion, Beltone’s unit is considered to be the fastest-growing company in Egypt’s financial leasing and factoring sector.
In May, the company rolled out an EGP 400 million agreement with IL Cazar for Urban Development.
