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EFG Hermes Factoring receives licence to offer services in the Egyptian market

Mar 28, 2018 - CPI Financial

EFG Hermes Factoring, a subsidiary of financial services corporation, EFG Hermes, has received a licence to offer factoring services in the Egyptian market, further diversifying its product offering to large corporates and SMEs across Egypt.

EFG Hermes has allocated an initial EGP 250 million to operate the new venture, which falls under the umbrella of its non-bank finance platform, EFG Finance Holding.

“The new venture will leverage our liquid balance sheet and our growing relat...