EFG Hermes topped the financial leasing companies, with a market share of 23%, & contracts worth EGP 1.97 billion last December.
Global Corp for Financial Services ranked second with contracts amounting to EGP 860 million & a market share of 10%.
Corplease for financial leasing came in third place, with a market share of 8.6%, & contracts amounting to EGP 741 million.
What is financial leasing?🤔
Financial leasing is a method used by businesses for the acquisition of equipment with payment structured over time.
Egypt’s factoring market summarized🏛
The total volume of discounted securities during the past year jumped by 81.5% to reach EGP 20.5 billion, compared to EGP 11.3 billion in 2020.
Hermes also topped the factoring companies’ throne last December, with a market share of 23.3%, & the value of the discounted securities amounted to EGP 679.2 million.
QNB Al-Ahly Factoring came in 2nd place, with a market share of 21.89%, & discounted securities amounting to EGP 638 million.
Egypt Factors came in 3rd place with discounted securities amounting to EGP 411.6 million, & a market share of 14.12%.
What is Factoring?🤔
Factoring is a financial transaction & a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount.
