Beltone’s BIH unveils $100M private credit platform for Egyptian export leaders
Updated 4/30/2024 9:53:00 AM
Arab Finance: Beltone Investment Holding (BIH), a subsidiary of Beltone Holding, is launching a $100 million private credit platform geared towards catering to the financing needs of Egyptian export champions across various scales, as per a press release.
The platform's size will expand to meet market demands and primarily engage with enterprises that have offshore projects or operations, extending services such as working capital finance and cashflow discounting.
With all necessary licenses and regulatory clearances secured, the platform is set to commence operations promptly.
The financing for this venture will be sourced through a $100 million loan from Beltone's anchor shareholder. Shareholders have given their nod to this loan at an ordinary general meeting held on April 29t.
“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,” Beltone Holding’s CEO Dalia Khorshid said.
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