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Beltone’s investment arm to launch $100m credit platform for Egyptian exporters

Beltone’s investment arm to launch $100m credit platform for Egyptian exporters
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Beltone Holding
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Cairo – Mubasher: Beltone Investment Holding (BIH), a subsidiary of Beltone Holding, is set to launch a $100 million private credit platform.

The new platform will serve Egyptian exporters, according to a press release.

The platform will collaborate with businesses engaged in offshore projects or operations, providing services such as working capital finance and cashflow discounting, among others.

Dalia Khorshid, CEO of Beltone Holding, said: “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.”

“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 recognises the rapidly evolving nature of global business,” he added.

Mohamed Aboulfadl, Head of Investment Bank, stated: “The launch of this platform formalises 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.”

Aboulfadl added that the new platform’s size will grow over time to meet market demand.

All necessary licenses and regulatory approvals for the platform to commence operations have been obtained.

Funding for the platform will be sourced through a loan from Beltone’s principal shareholder, a decision ratified by shareholders during an ordinary general meeting held on 29 April 2024.

Beltone Venture Capital, a subsidiary of Beltone Holding, has signed an agreement with CI Venture Capital, a wholly-owned unit of Abu Dhabi-based Citadel International Holdings, to manage a $30 million fund.

It is worth noting that Beltone Holding's consolidated net operating profit surged by an astonishing 3,597% year-on-year (YoY) to EGP 1.02 billion in 2023, up from EGP 27.80 million.