(MENAFN- Daily News Egypt) Beltone Investment Holding (BIH), an affiliate of Beltone Holding, has inaugurated a $100m private credit platform designed to bolster Egyptian exporters across various scales.
Beltone Holding CEO Dalia Khorshid remarked:“Egypt boasts a plethora of enterprises poised to become the bedrock of a multifaceted, export-driven economy. This spans from established sectors to emerging fields such as artificial intelligence, manufacturing, agriculture, and tourism.”
Khorshid added:“These firms are in pursuit of growth, be it through enhancing their offshore operations or amplifying their export activities. They require bespoke financial solutions from a dependable ally, attuned to the swift pace of the global business landscape.”
Mohamed Aboulfadl, Head of Investment Banking at Beltone Holding, stated:“The introduction of this platform signifies our pledge to a novel business avenue within the Investment Bank Platform. We aim to nurture the forthcoming cadre of Egyptian powerhouses that will propel our country's presence into the Arab Gulf, Africa, and further.”
Aboulfadl noted that the platform's capacity will incrementally align with market demand. It is set to collaborate with enterprises engaged in overseas projects or operations, providing services such as working capital finance and cash flow discounting. The platform has secured all necessary licenses and regulatory consents to commence its services.
The funding for the platform will stem from a $100m loan contributed by Beltone's principal shareholder. This financial backing was ratified during an ordinary general assembly on 29 April 2024.
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