Beltone Leasing، a subsidiary of Beltone، becomes a fully-fledged alternative finance provider

Beltone (“Beltone Financial Holding”)، one of the fastest-growinginvestment banks، announces that its wholly owned subsidiary Beltone Leasing Company("the Company") has received the Financial Regulatory Authority’s final approval on addingFactoringtotheCompany’slinesofbusiness،enablingittobecomeafully-fledgedalternativefinanceprovider.

The Company plans to capitalize on this new license in light of the growing demand forimmediate access to cash flows and alternate sources of finance by medium and large sizedcorporations،whilereducingtheassociatedcreditrisk.TheCompany’snamewaschangedto"Beltone Leasing & Factoring Company". Recently، the Company increased its paid in capitaltoEGP1billion،tobecomethelargestEgyptiancompanyinthefieldintermsofpaidincapital.Earlierthisyear،theCompanysignedmultipletransactionsworthapproximatelyEGP4billion.

Amir Ghannam، Beltone Leasing & Factoring’s CEO commented: “Our target is to enrich themarket by offering creative solutions to support businesses، factoring products are just thebeginning. We onboarded a fully-fledged team to overlook factoring activities headed byHaytham Farid as Factoring Managing Director، one of the founders of the factoring industryin Egypt with more than 25 years of experience in banking and factoring activities، as webelievethathumancapitalisa keyenablertoachieve ourvision”.