Egypt

The World Bank today approved a loan of 

Marius Savin, General Manager of Egypt Factors and Peter Mulroy, Chairman of Factors Chain International (FCI), talk to Factorscan about the motives and outcomes behind the International Factoring Promotion Conference held in Egypt in January, organised by FCI and sponsored by Egypt's Ministry of Trade and Industry. The pair addressed the positive developments to emerge from the event, the increasing take-up of factoring in Egypt and the wider Middle East and continuing impediments to growth.

Egypt Factors is currently preparing to increase capital by $3 million, equivalent to 2.1 million. This will

Marius Savin, General Manager of Egypt Factors, talks to Factorscan about the major challenges faced by the Egyptian factoring industry, legal developments that could smooth the way for further growth and why financial licenses would help.

Egypt Factors Ahmed Shaheen predicts a period of strong growth for the Egyptian factoring sector in the next five years, despite a difficult start for the industry. In a recent statement, Shaheen

Egypt has created a new authority to oversee capital markets and non-bank financial services, a move that is likely to encourage lending to SMEs

Egypt's Industrial Modernization Programme has created the first private equity fund aimed at solely benefiting local SMEs.

The African Development Bank is looking to promote Egyptian franchising and the establishment of solid local financial instruments.

FIMBank appointed Marius Savin as Co-General Manager, together with Ahmed Shaheen he has the task of making Egypt Factors the leading factoring company of Egypt

With Egypt's first factoring company now up and running, local exporters can turn to a less traditional source of finance to ensure they have access to credit.