Cairo 30 Apr 2024:
Beltone Investment Holding (BIH) – a subsidiary of Beltone Holding (“Beltone” or “the company”), one of the fastest-growing financial institutions in the Middle East and North Africa, is launching a USD 100 million private credit platform to serve the needs of Egyptian export champions of all sizes.
“Egypt is home to a vast number of companies who are the future cornerstones of a diverse, export-oriented economy rooted in both traditional industries and the sectors of tomorrow — from artificial intelligence to manufacturing, from agriculture to tourism,” said Beltone Holding CEO Dalia Khorshid.
“Whether they’re looking to grow their offshore operations or expand their exports, these businesses need access to tailor-made financial solutions provided by a partner they can trust, and on a timeline that recognizes the rapidly evolving nature of global business,” Khorshid continued.
“The launch of this platform formalizes our commitment via a new line of business under the Investment Bank Platform which will help build the next generation of Egyptian giants that will carry our nation’s flag into the Arab Gulf, Africa, and beyond,” said Mohamed Aboulfadl the Head of Investment Bank.
The size of the platform will grow over time in response to market demand, he added. The platform will work with businesses that have offshore projects or operations and will offer working capital finance and cashflow discounting services, among others. The platform has received all required licenses and regulatory approvals to begin operations.
The platform will be financed through a USD 100 million loan from Beltone’s anchor shareholder. Shareholders approved the loan at an ordinary general meeting held on April 29, 2024.
