By: Islam Fadl
Cairo – Mubasher: Global Lease is in conversations with three banks to borrow EGP 300 million in the meantime, the company’s CEO said.
This loan will be invested in its factoring unit, expected to be launched by January 2019 with EGP 50 million in capital, Hatem Samir told Mubasher in a phone call.
The company has submitted all the required documents to obtain the licenses for launching the factoring company, he highlighted.
The Egyptian leasing company is currently approaching nine banks to get EGP 1.55 billion in financing.
It is worth noting that Global Lease had received EGP 1 billion in financing during the first eight months of this year out of EGP 2.5 billion loans it got since it was founded in 2015.
