Arab Finance: Beltone Leasing and Factoring, a wholly owned subsidiary of Beltone Financial Holding, has penned an EGP 480 million leasing and factoring agreement with Dough and More Food Industries (DAMFI), one of TBS Holding's subsidiaries, according to a statement issued on December 7^th.

The primary goal of this agreement is to provide DAMFI with the financial resources it needs to support its growth strategy and expansion plans.

The agreement's leasing section includes production equipment and assets valued at EGP 380 million.

The purpose of the EGP 100 million factoring component is to finance DAMFI's needs for working capital, as well as to buy raw materials and build up inventory.

On December 5th, Beltone Leasing and Factoring signed an agreement worth EGP 200 million with the Egyptian Company for Import and Export (EGMED), marking its first factoring transaction since obtaining the license from the Financial Regulatory Authority (FRA) in September 2023.

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