Cairo – Mubasher: Cash for Microfinance, a subsidiary of Beltone Holding, has signed a cooperation protocol with Microfinanza Italia to launch a EUR 2.20 million project for the economic support and empowerment of entrepreneurs.

The agreement aims to broaden financial services, providing strong backing for entrepreneurial ventures with financial resources and technical expertise, according to a press release.

The collaboration is set to boost startups and small businesses, enhancing access to capital and financial tools to drive economic growth.

Morcos Nabil, CEO of Cash for Microfinance, stated: “I believe that this protocol is a continuation of our efforts to collaborate with international donors, which aligns with the Egyptian state's directive to strengthen and support small and medium-sized enterprises for economic empowerment.”

Alessandro Baroni, Senior Expert at Microfinanza, said: "This collaboration is intended to boost financial services for Egypt's entrepreneurs and start-ups…Cash Microfinance and Microfinanza look forward to offering effective financial solutions and unleashing the full potential of Egyptian companies and communities.”

In April 2024, Beltone Investment Holding (BIH), a subsidiary of Beltone Holding, unveiled plans to launch a $100 million private credit platform for Egyptian exporters.