Beltone’s Cash for Microfinance plans further expansion in Egypt
By Delisha Fernandes
Beltone, one of the fastest-growing investment banks, announced the expansion plans and strategic objectives of Cash for Microfinance, a wholly owned subsidiary of Beltone.
The Company offers a comprehensive and growing set of financial solutions such as brokerage, investment banking, asset management, equity research, and private equity, in addition to end-to-end non-banking financial institutions (NBFIs) including leasing, factoring, consumer finance, venture capital and microfinance
Cash will be offering innovative solutions that meets its customers’ needs in various underserved areas, with a focus on technological and digital solutions to provide distinguished services to reach its strategic goals in addition to developing and raising the efficiency of the Company’s taskforce.
Morcos Nabil, Cash for Microfinance CEO said, “We look forward to enriching the market by adopting an ambitious rollout plan and providing innovative financing solutions to customers in light of the expected growth rates and increase in demand for financing, in accordance with our strategic plans and feasibility studies for the market.”
The Company plans to strengthen its reach by increasing its branches capacity across Egypt and launch many mobile branches, to make its financial services available to customers especially in remote areas, where Beltone intends to maximize the Company’s capital base to reach EGP500 million.
Beltone intends to apply for small and medium-sized enterprises financing license from the Financial Regulatory Authority, which will allow customers to obtain financing worth up to EGP5 million per project, which will reflect positively on the size and growth of the Company’s portfolio and allow it to reach new segments of customers, to support financial inclusion and the culture of entrepreneurship.
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November 28, 2023
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