Leasing jumped by 67.8 per cent to LE38.95 billion in the fourth quarter (Q4) 2023, up from LE23.2 billion in the same period a year earlier, according to data from the Financial Regulatory Authority (FRA).
Leasing is similar to purchasing on credit, but offers more flexible repayment conditions for SMEs, startups and the corporate sector in general. It can provide manufacturing SMEs with adequate funding to get expensive machinery without purchasing them.
At the end of leasing period, SMEs own the leased machinery.
The number of leasing contracts fell by 19.1 per cent to 575 in 2023 Q4, down from 711 in the corresponding period in 2022.
Real estate and land accounted for 85.3 per cent of leasing contracts worth LE33.24 billion, in 2023 Q4, while machinery snatched 4.7 per cent of leasing contracts, according to FRA data.
Trucks snatched 3.47 per cent of leasing contracts worth LE1.35 billion in 2023 Q4. Private cars accounted for 2.55 per cent, or LE992 million, in 2023 Q4, according to FRA data.
Heavy equipment and production lines snatched 1.46 and 1.36 per cent, or LE567 million and LE529 million respectively, according to FRA data.
Office equipment snatched 0.07 per cent of contracts worth LE26 million in 2023 Q4, according to FRA data.
12 cryptocurrencies to buy
With the cryptocurrency markets still in an uncertain position, many crypto investors are wondering if it’s time to sell in order to avoid further losses or if the market is going to recover soon, Coincodex said in a report.
“Even though the crypto markets have so far always recovered from their bearish periods, every bear market has its casualties that never make a strong recovery,” said the Coincodex report, a copy of which was made available to the Egyptian Mail.
The platform has recommended 12 cryptocurrencies based on their liquidity and availability, technology, sector leadership, tokenomics and more key factors. The 12 cryptocurrencies are: Bitcoin, Toncoin, Dogecoin, Ethereum, Solana, XRP, Uniswap, BNB, Mina Protocol, Cosmos, Litecoin and Shiba Inu.
“Bitcoin introduced the concept of a blockchain and provides a fully decentralised digital currency that’s extremely secure. It implements Proof-of-Work to make it very difficult to alter the history of transactions or double spend coins,” the report said, pointing out that the network is secured by miners, who are rewarded with BTC coins for adding blocks to the Bitcoin blockchain.
BTC can be sent anywhere in the world on a 24/7 basis, and transactions cannot be blocked by any intermediaries. By holding their own private keys, users can self-custody their Bitcoin without requiring institutions such as banks.
The Coincodex pointed out to the next Bitcoin halving, which is expected to take place between April 20 and April 22, according to most estimates. The halving is forecast to add momentum to Bitcoin.
“Although it’s unclear what kind of price action we can expect immediately before and after the halving, Bitcoin’s medium to long-term performance has historically been very strong after each halving.” The report noted.
