The executive chairman of EFG-Hermes Leasing, Wael Zeyada stresses the necessity of involving the leasing sector in financing giant and industrial projects in Egypt.
In July, EFG-Hermes, one of the Arab world’s leading investment banks, launched ‘EFG-Hermes Leasing’, a wholly owned subsidiary specialised in providing leasing services to large, small and medium-sized enterprises, with an initial capital of 100 million Egyptian pounds.
When EFG-Hermes launched its leasing arm, it was a significant addition to the parent company’s assets which exceed 20 billion pounds, Zeyada said during a panel discussion in the Egyptian Partnership for Development’s leasing event that EFG-Hermes’ launch of its leasing arm.
The leasing mechanism in Egypt needs to play a greater role in financing more sectors besides the real estate, Zeyada noted.
Real estate sector captures more than 70 percent of the total finances provided by leasing firms in Egypt.
