Cairo: Contact Financial Holding, a pioneer in the field of non-bank financial services, has launched its new product “Green Finance” to promote sustainability, which is considered locally and globally influential in the current period, especially in light of the climate changes affecting the planet in general. As Contact seeks to apply the sustainability approach and provide smart and environmentally friendly designs and products. Therefore, Connect is unique among non-bank finance companies by allocating a product that supports green economy transformation.
Connect enables the installment of multiple assets in the green financing product, such as: financing of solar energy units, financing and development of irrigation systems, financing of agricultural greenhouses, financing of the development and equipment of trench planting projects, roofing Plastics for Agricultural Greenhouses and Tunnels, Pond Financing and Fishing Equipment, Poultry and Livestock Financing and Equipment Departments, plus Clean Energy Generation Financing Units for up to five years with no down payment. The green finance product features two repayment systems, one monthly and one quarterly, which reflect Contact’s understanding of the nature of the agricultural business and its cash flow cycle.
Green finance is considered to be a new change in the world of finance in general. As this system deals with environmental influences as an environmentally friendly economic activity and one of the ways to achieve sustainable development. There are many reasons that prompted Contact to move towards this type of financing, in particular development, environmental protection and the incentive to use resources and energy efficiently, as well as the fact that the interest in the environmental and social is not new to the Contact Group, as the group’s headquarters building in downtown Cairo was the first green building in the region since 2018, the group has also introduced several products related to the social dimension, such as financing of education and the financing of shared transport drivers.
In this context, Tamer Samir, Chief Executive Officer of Contact Finance, said: “The company is striving to launch products that serve customers and at the same time implement the principles of sustainable finance, implementing Contact Financial Group’s plan to move towards a green future, and this approach is not new to us. We always strive to achieve the equation of serving the customer and raising their standard of living in a way that serves the local economy, which in turn seeks to apply the principles of sustainable development, and green finance in particular is an important and necessary step towards a greener future.
Saeed Zaatar, CEO of Contact Financial Holding Group, stressed the importance of stepping into green finance in various fields of finance and the solidarity of all Contact Financial Group companies to commit to finance projects that provide tangible environmental and social benefits, emphasizing the need to work on stepping up efforts to support financing plans aimed at building a more sustainable future. The company will pay close attention in the coming period to sustainability and how to achieve it, and will work to launch products that help achieve the principles of sustainability and achieve the modern developments that the country seeks, in terms of environmental conservation and its cleanliness , protecting the agricultural area, rebuilding the wastelands and turning them into green spaces, which opens many doors for a better life.
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Contact Financial Holding SAE (Egyptian stock exchange code CNFN.CA) is a leading group in the provision of non-banking financial solutions and services, as it manages a group of companies through which it provides an integrated set of financial and insurance products and services. Contact takes an innovative approach to ensure the delivery of its services of the highest quality in the finance and insurance sectors, with the simplest procedures to reach a wide market segment. Through Contact Finance, Connect offers various financing programs to finance the purchase of new and used cars and vehicles, and through Contact Credit Tech it offers financing programs for consumer goods and services, as well as real estate financing and finishing programs through Contact for real estate financing and commercial financing programs through its subsidiaries, Connect., for finance leasing and factoring contact. Contact also provides insurance services through two companies, Tharwa Insurance and Tharwa Life Insurance. The company is also the first and largest issuer of securitization bonds in various fields in the Egyptian market. Contact Financial Holding Company LLC Licensed and subject to financial regulator.
