Madkour Group secures $24.6-million credit facility from Suez Canal Bank

Feyisayo Ajayi -
Key Points
  • Madkour Group has secured a EGP1.2 billion ($24.6 million)  credit facility, highlighting its strategic focus on local and international expansion.
  • Suez Canal Bank facilitated the deal, reinforcing its commitment to providing innovative financing solutions for corporate growth.
  • Founded in 2015, Madkour Group has emerged as a key player in Egypt's energy and industrial sectors, with operations across multiple countries.

Madkour Group, the Egyptian conglomerate led by prominent tycoon Mostafa Madkour, has successfully secured a EGP1.2 billion ($24.6 million) credit facility. This significant funding marks a strategic advancement in the company’s growth plan, underscoring its commitment to expanding operations domestically and internationally.

The deal, facilitated by Suez Canal Bank, aims to reinforce the bank’s role as a key financial partner by offering flexible and innovative solutions to support long-term corporate growth. The partnership aligns with Madkour Group’s broader objectives to expand its footprint across multiple sectors while enhancing strategic initiatives.

Innovative financing solutions

The signing ceremony was attended by Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, Shehab Zidan, Deputy CEO and MD, AlHaytham ElKobbrosly, Head of Corporate and Investment Banking Services of Suez Canal Bank, Mostafa Madkour, Chairman and CEO of Madkour Group, Haitham Kassem, Treasury Director of Madkour Group, Radwa Mostafa, Chief Investment Officer of Madkour Group, in addition to delegations from both sides.

Akef El Maghraby emphasized the bank’s commitment to providing comprehensive financing solutions tailored to corporate needs, fostering new avenues for collaboration with strategic partners. He highlighted that the partnership with Madkour Group exemplifies the bank’s dedication to supporting crucial economic sectors.

Echoing this sentiment, Madkour stated that the partnership would enhance the company’s operational capabilities and broaden the scope of both current and future projects on local and international fronts. He commended Suez Canal Bank for its steadfast support of national enterprises, which plays a pivotal role in stimulating the national economy.

Madkour Group boosts growth with partnerships

Founded in 2015, Madkour Group has grown into a key player in energy, EPC contracting, and utility services across Egypt and beyond.

Under founder and CEO Mostafa Madkour, the conglomerate has expanded into retail, industrial construction, and material distribution, with operations in Egypt, Saudi Arabia, Oman, Libya, and Equatorial Guinea.

In 2023, the group partnered with Alcazar Energy to boost Egypt’s renewable energy initiatives, secured EGP400 million ($8.2 million) in leasing and factoring from Beltone Holding, and deepened its collaboration with Siemens to enhance industrial innovation.