Arab Finance: TAWASOA Factoring has signed two credit facility agreements worth a combined EGP 50 million with the Arab African International Bank (AAIB) and Faisal Islamic Bank of Egypt, according to a bourse disclosure.

Each financing is valued at EGP 25 million, with repayments to be made through cash flows generated from the company's factoring contracts.

TAWASOA for Factoring indicated that these facilities tripled the total credit financing it has secured since its listing on the Egyptian Exchange (EGX), underscoring growing confidence among financial institutions in its financial performance and long-term growth strategy.

Founded in 2020, TAWASOA for Factoring is a non-banking financial institution based in Egypt, specializing in factoring and offering fast, customized, and high-quality solutions.