In a significant development, Elite Capital & Co. Limited has entered into a strategic partnership with DIGITIZE for Investment and Technology Co., a leading Egyptian ICT infrastructure company. This collaboration aims to support the Government Future Financing 2030 Program, focusing on advancing digital transformation and economic growth in Egypt. The agreement, signed under the EXIM + Finance System, highlights the commitment of both parties to drive innovation and sustainable progress in the country’s technology sector.
Strategic Collaboration for Digital Transformation
The newly established partnership between Elite Capital & Co. Limited and DIGITIZE marks a pivotal moment for Egypt's ICT industry. By leveraging their combined expertise, these organizations aim to accelerate the adoption of cutting-edge technologies and foster economic development. DIGITIZE, as the only publicly listed company specializing in ICT infrastructure in Egypt, plays a crucial role in shaping the nation's digital landscape. This alliance will facilitate the implementation of advanced ICT solutions and engineering services, contributing significantly to Egypt's strategic goals.
DIGITIZE has consistently demonstrated its leadership in the ICT sector by overcoming challenges and seizing new opportunities within the evolving digital environment. The company's deep knowledge and end-to-end service offerings enable it to support countries and organizations in achieving their strategic objectives through innovative technology and human ingenuity. With this partnership, DIGITIZE will enhance its influence on national initiatives, reinforcing its dedication to sustainable growth and progress in the digital era. Mr. Yousry Atlm, Chairman of DIGITIZE, expressed optimism about collaborating with the Government Future Financing 2030 Program to bolster economic projects in Egypt, particularly during the transformative era under President Abdel Fattah El-Sisi.
Pioneering Financial Solutions for Sustainable Growth
Elite Capital & Co. Limited brings extensive experience in financial management, consultancy, and funding for large-scale infrastructure and commercial projects. Under the EXIM + Finance System, this partnership introduces a novel financing mechanism that eases the burden on the Ministry of Finance by providing medium to long-term bank guarantees for importing government project content. This arrangement allows banks to assess risks more effectively, streamlining the approval process for issuing guarantees and enabling projects to commence production and generate profits in preparation for repayment.
Dr. Faisal Khazaal, Chairman of Elite Capital & Co. Limited and Head of the Government Future Financing 2030 Program, emphasized the importance of this financial framework. He explained that it not only relieves the Ministry of Finance from issuing sovereign guarantees but also provides banks with greater flexibility in evaluating risks associated with issuing guarantees. This innovative approach facilitates smoother project initiation and supports sustainable economic growth. Mr. George Matharu, President of Elite Capital & Co. Limited, concluded by highlighting the significance of working with a leading company like DIGITIZE to advance ICT solutions and engineering services in Egypt and the Middle East.