Egypt’s leasing activity declined by 8.8 in 2016

Egypt’s leasing activity declined by 8.8 percent in 2016; the number of contracts has slumped to 836 from 910, Sherif Samy -chairman of the Egyptian Financial Supervisory Authority (EFSA) – announced Tuesday.

The value of the leasing contracts registered 7.01 billion Egyptian pounds (US$billion) by the end of April 2016 compared to 7.8 billion pounds in 2015, Samy noted.

Real estate activities topped the list of activities by acquiring the largest market share of leasing contracts to reach 5 billion Egyptian pounds marking 71%.

In the second place came the heavy equipment activity which has amounted by 10 percent to register 711 million pounds, while trucks activity was the third to record 609 million pounds capturing 9%.

However, the total number of registered financial leasing companies is 222 companies during year 2016 from 216 at the same period of 2015, meanwhile, 25 companies were the most active throughout the year compared to 20 companies in the previous year.