Egypt eyes robust growth in leasing activity in 2020: regulator

Egypt plans to double its leasing activity by 2020, as part of efforts to raise awareness of adopting more non-banking financing tools, head of the market regulator said at a conference in Cairo on Monday.

The Egyptian leasing market is expected to reach 35 billion Egyptian pounds ($2 billion) by the end of 2019, with plans to pick up by 2020 to 80 billion pounds, said Mohamed Omran, chairman of the Egyptian Financial Supervisory Authority (EFSA).

The local leasing activity witnessed a robust growth over the last four years, reflecting growing awareness of the importance of the non-banking financing services as basic funding alternative, Omran said.

Leasing contracts in Egypt rose from 4.3 billion pounds in 2013 to 28.6 billion pounds at the end of 2017, the market regulator head said at the Egyptian Third Annual Leasing Conference.