Global Lease aims to pump mutual funds of 900 mln pounds

Egyptian Global Lease Company is seeking to pump mutual funding of 900 million Egyptian pounds ($50 million)   in cooperation with banks and leasing companies during the second quarter of 2018.

Hatem Samir, the company’s CEO, said that the funds would be granted to companies operating in three sectors namely the industrial, agriculture and food and beverages, referring that the company’s share of these funds is not less than 300 million pounds.

he added that his company has captured a market share of 4.9 percent with funds registering 1.193 billion Egyptian pounds by the end of November 2017, seeking to pump fund of one billion pounds during 2018.

Global Lease  is currently negotiating with other banks over additional funds worth 2 billion pounds during the  current year.

on the other hand, Egypt’s Wadi Degla Holding has signed a contract with Ezdehar Egypt Mid-Cap Fund, under which the latter shall seize 60% of Global Lease’s shares.