Egypt: Beltone Leasing gets $20mln financing from Germany's Finance in Motion funds
Each fund provided $10 million, each, with a repayment tenor of five years.
SANAD's funding will support micro, small, and medium enterprises (MSMEs) and low-income households across the Middle East and North Africa (MENA) region.
Meanwhile, GGF's contribution will finance renewable energy, energy efficiency, and sustainable resources in MENA as well as neighboring regions.
This transaction backs Beltone Leasing's objectives in offering innovative non-bank financial solutions that boost economic empowerment and environmental sustainability, aligned with Egypt Vision 2030.
Amir Ghannam, Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance, said: 'This funding will enable us to strengthen our support for MSMEs while accelerating green projects that contribute to a more sustainable and resilient future.'
Sherif Hassan, Group Treasurer and Managing Director of Debt Capital Markets, highlighted that the funding reflects a commitment to channeling strategic capital to grow Beltone Leasing and Factoring.
'It also highlights our focus on ESG-driven financing, in line with the broader Beltone's mission to support sustainable and impactful growth,' Hassan added.
In May, Beltone Leasing completed its second securitization issuance in less than a year, with a total value of EGP 2 billion.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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