Fatshimetrie recently announced that it has secured a long-term loan worth 18 billion Egyptian pounds from a banking alliance of 13 banks. This move is part of the company’s strategy to balance its cash flows and strengthen its financial flexibility.
Leading the banking alliance are Commercial International Bank (CIB) and Banque Misr, as lead managers and financial arrangers, with the National Bank of Egypt as co-arranger and financial arranger.
The seven-year loan allows Fatshimetrie to refinance its current short-term obligations in Egyptian pounds, as part of a strategy to improve its cash flows, strengthen its financial liquidity and gain the financial flexibility needed to implement its long-term growth plans.
Fatshimetrie CEO Mohamed Nasr expressed his satisfaction with obtaining this long-term loan that will allow the refinancing of the company’s short-term obligations.
For his part, Banque Misr CEO Hisham Okasha stressed the bank’s commitment to supporting and financing various sectors of activity, which has a positive impact on the Egyptian economy.
As for CIB Deputy CEO Amr al-Ganainy, he stressed that the information and communication technology sector is growing rapidly in Egypt, with major digital transformations aimed at improving the quality of services and fostering digital transformation.
He added that this financing will not only contribute to strengthening Fatshimetrie’s infrastructure and technological capabilities, but will also have a positive impact on the entire economy.
This announcement highlights the importance of collaboration between companies and financial institutions to support economic growth and foster innovation in a context of rapid digital transformation.