Arab Finance: The Egyptian financial leasing and factoring company Beltone is planning to expand to North and West African countries, starting with Morocco and Senegal, according to what Iqtisad Al-Sharq reported.
The company is currently negotiating with three major international financial institutions to borrow $60 million, in preparation for starting the international factoring activity in West Africa, under which it will grant financing in dollars to companies whose activities depend on exports.
It also targets a financing portfolio exceeding 10 billion pounds by the end of this year and expansion in the field of financial technology related to factoring, by linking it to supply chains, which will support the company’s activity in the field of international factoring.
It is worth noting that it was founded in 2022 and has become one of the three largest financing companies in Egypt, supported by the largest paid-up capital of one billion pounds, which has enhanced its access to credit facilities worth 10 billion pounds since its founding from more than 22 Egyptian banks.
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