Egyptian investment firm Al Ahly Capital has finalized acquiring a 51 percent stake in Easy Lease, a subsidiary of El Sewedy Capital, the investment arm of El Sewedy Electric Group. This move supports Al Ahly Capital's strategic expansion in the non-banking financial services sector, aiming to strengthen its presence in financial leasing.
With a growing Egyptian financial leasing market, valued at 117.5 billion Egyptian pounds ($2.4 billion) by the end of 2023, Al Ahly Capital's acquisition underscores its commitment to tapping into this burgeoning sector. The Financial Regulatory Authority targets further growth, aiming to elevate the value of financial leasing contracts to $3.1 billion by 2026.