Beltone Holding, one of the fastest-growing financial institutions, has announced that its subsidiary, Beltone Leasing and Factoring, signed an EGP 400 mn financing agreement with Madkour Group, Invest-Gate reports.

The deal includes a sale and leaseback agreement worth EGP 300 mn for administrative units in the “Zizinia” project in New Cairo and a factoring agreement worth EGP 100 million to support Madkour Holding’s working capital needs.

This agreement aims to support Madkour’s growth projects across Egypt and reflects Beltone’s commitment to providing financial solutions for businesses to facilitate their expansion and development.

Regarding the agreement, Amir Ghannam, CEO of Beltone Leasing and Factoring, stated, “This deal with Madkour Group highlights our success in offering tailored financial solutions that help businesses across various sectors expand and grow. It reinforces our position in the leasing and factoring sector while contributing to sustainable economic growth and job creation.”

Mostafa Madkour, Chairman & CEO of Madkour Group, expressed his satisfaction with the partnership, saying, “We are pleased to collaborate with Beltone Leasing and Factoring. This agreement strengthens our financial position and allows us to pursue new growth plans in different markets.”

Beltone Leasing and Factoring has rapidly gained market share, becoming a leading player in the healthcare, education, real estate, manufacturing, and logistics sectors. With a paid-up capital of EGP 1 bn, the company is currently the largest leasing entity in Egypt.