Arab Finance: Beltone Financial Leasing and Factoring Company, a subsidiary of… Beltone Holding (BTFH)A financial leasing and factoring agreement worth 400 million pounds with the Madkour Group, according to what Beltone announced in… Press release today.
The agreement includes 100 million pounds in the form of factoring to support the working capital needs of the Madkour Group and about 300 million pounds in the form of an agreement to sell and lease back the assets of administrative units in the group’s Zizinia project in New Cairo. The company intends to use the funds to “pursue new growth plans in various markets.” “.
The agreement signed with the Madkour Group of Companies represents evidence of the success of our vision in providing appropriate financing solutions for companies in various economic activities to implement their plan for expansion and growth, which is reflected in achieving sustainable economic growth and providing more job opportunities, which enhances the company’s position in financial leasing and factoring activities.
It is worth noting that operating revenues from the non-banking financial activities sector in Beltone Holding grew by about 13 times on an annual basis to reach 2.4 billion pounds during the first half of 2024, contributing 81.3% of total operating revenues, and financial leasing and factoring activity was one of the drivers of this growth. The sector's business portfolio grew six-fold on an annual basis.
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