CGC Smashes Records: £262.53 Billion in Guarantees Issued Over 35 Years of Unwavering Support
CGC Guarantee Company Announces Plans to Support Small and Medium Enterprises
The company disclosed its “CGC Guarantee” plan, which aims to cover small and medium enterprises by the end of this year. This move is in line with the state’s direction of supporting small, medium, and micro enterprises, as they have a significant impact on creating job opportunities, especially in key sectors such as industry, agriculture, supply, and export.
CGC Guarantee Company has successfully issued guarantees to financial institutions worth a total of £262.53 billion over the past 35 years, contributing to the support and financing of various projects. The company aims to continue supporting small and medium enterprises while creating job opportunities for around 260,000 youth over the years.
The company’s financial position is strong, with a capitalization of approximately 2.5 billion pounds at the end of the second quarter of 2024. This enables it to continue supporting small and medium enterprises and face market fluctuations and economic challenges.
Khaled Gamal, Managing Director of CGC Daman Company, stated that the company has achieved many accomplishments that have contributed to the support and development of the Egyptian economy since its establishment in 1989. He emphasized the company’s commitment to supporting small, medium, and micro enterprises for continuous development and innovation.
CGC Daman Company has played a significant role in facilitating projects’ access to financing, creating new job opportunities, and promoting sustainable economic development. The company is committed to developing new work processes to keep up with continuous economic changes and providing opportunities for financing small and micro enterprises.
CGC Guarantee Company is the only company that provides guarantees in Egypt, and it aims to increase access to financing for micro, small, and medium enterprises to enable them to grow and prosper. The company’s goal is to create strong business models that ensure sustainability and contribute to a more diversified economy.