CAIRO, Jan. 13, 2025 (GLOBE NEWSWIRE) — Elite Capital & Co. Limited announced today that the Government Future Financing 2030 Program has entered into a Cooperation Agreement with DIGITIZE for Investment and Technology Co., an Egyptian publicly listed company (EGX70 – DGTZ.CA).
“The Government Future Financing 2030 Program (Exclusively Managed by Elite Capital & Co. Limited) has signed an EXIM + Finance System Cooperation Agreement in the ICT solutions and engineering services sector with DIGITIZE for Investment and Technology Co.,” said Mr. George Matharu, President of Elite Capital & Co. Limited. Negotiations, which began in July 2024, led to this agreement.
DIGITIZE, the only publicly listed company in Egypt specializing in the ICT infrastructure sector, is recognized for its leadership in digital transformation. This distinction is derived from its financial strength, transparency, and significant contribution to Egypt’s digital development. The company provides end-to-end services that assist in achieving strategic goals through technology and innovation.
Mr. Yousry Atlm, Chairman of DIGITIZE for Investment and Technology Co., expressed enthusiasm, stating, “We look forward to joint work with the Government Future Financing 2030 Program to support the economic governmental projects in Egypt, which have witnessed remarkable development in all sectors during the era of His Excellency President Abdel Fattah El-Sisi.” He also thanked Dr. Faisal Khazaal, Chairman of Elite Capital & Co. Limited.
Elite Capital & Co. Limited is a financial management firm specializing in project-related services, including management, consultation, and funding, particularly for large infrastructure projects. Dr. Faisal Khazaal, also the Head of the Government Future Financing 2030 Program, explained the EXIM + Finance System. This system provides medium or long-term bank guarantees to support government projects. This approach reduces the financial burden on the Ministry of Finance by eliminating sovereign guarantees and provides banks with a process to assess the risks of issuing bank guarantees. This system allows projects to start production and generate profits in preparation for repayment.
Mr. George Matharu concluded, “Working with a leading company like DIGITIZE for Investment and Technology Co. on the ICT solutions and engineering services projects in Egypt and the Middle East is a great addition to the journey of Elite Capital & Co. Limited.”
