Contact Enters a Cooperation Protocol with Estadat Sports investment to Provide Club Membership Installment Services
Contact Financial Holding, a leading Egyptian non-banking financial services company, has announced the signing of a cooperation agreement with Estadat Sports Investment to finance City Club memberships and provide City Club members with benefits and services provided by Contact at a competitive interest rate.
Said Zater, CEO of Contact Financial Holding, and Seif El Wazery, CEO and Chairman of Estadat inked the agreement in the presence of some distinguished members of Contact and Estadat’s executive management teams.
What the Stakeholders are saying
Said Zater, CEO of Contact Financial Holdings, commented on the partnership, saying, “The clubs are some of the most important places in Egypt that people seek, whether for sports or social gatherings and signing this agreement is only the beginning of supporting club goers and exploring new horizons for various financing services, within the framework of the company’s goals as part of its plan to provide non-banking financial services to individuals.”
“Contact’s services will enable the club members to manage their financial resources with ease by paying the club membership fees in installments, as well as allowing them to enjoy the various financing benefits that Contact offers to all its current and prospective clients in all fields,” Zater concluded.
“The Egyptian government has made great efforts over the last period to improve the standard of living of citizens at all levels, including sports, through sports projects that have been established in many cities across Egypt,” said Seif El Wazery, CEO of Estadat. This collaboration would effectively contribute to meeting the desires of citizens across Egypt to join the family of City Club members with facilities that allow them to benefit from the activities and services provided in the clubs, with facilities in payment methods, and in a manner that does not add huge additional burdens to those wishing to join’s budget. As the company is keen to increase its investment share and enhance its presence in the sports field in the MENA region. Estadat has a total of 19 branches, 6 branches have been operating and 8 branches are under establishment.”
About Contact
Contact Financial Holding (CNFN, CA) is a leading provider of non-bank financial solutions and services, managing a group of companies that offer a comprehensive range of financing and insurance products and services. It takes an innovative approach to ensure the highest quality of services in the fields of finance and insurance, with the simplest process to reach a large segment of the market.
The company’s Credit provides various financing programs to finance the purchase of new and used cars and vehicles, as well as durable goods financing programs, home finance, and finishing programs through Contact Mortgage, and trade finance programs through its sister companies Contact Leasing and Contact Factoring. Contact Insurance and Sarwa Life Insurance also offer insurance services. In addition, the company is the first and largest issuer of securitization bonds in the Egyptian market. The Financial Regulatory Authority licenses and regulates Financial Holding Company LLC.
Contact recently partnered with Trella to fund its working capital requirements and regional expansion.