Beltone Leasing and Factoring, a subsidiary of Beltone Holding, has obtained $20 million in funding from two prominent impact investment funds, the SANAD Fund for MSME and the Green for Growth Fund (GGF). Each fund contributed $10 million, with a repayment period of five years.
The SANAD Fund focuses on enhancing financial access for micro, small, and medium enterprises (MSMEs) and low-income households in the Middle East and North Africa (MENA). Its financing aims to stimulate economic growth and job creation across various sectors. Meanwhile, GGF will allocate its funds towards renewable energy projects, energy efficiency enhancements, and sustainable resource management initiatives within MENA and neighboring regions.
This funding aligns with Beltone’s strategy to offer innovative financial solutions that foster economic development and environmental sustainability, reflecting Egypt’s Vision 2030. Amir Ghannam, Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance, emphasized that this foreign currency funding enables Beltone to diversify its capital sources and improve financing options for MSMEs and green projects.
Sherif Hassan, Group Treasurer, noted that this collaboration with Finance in Motion demonstrates Beltone’s dedication to ESG-driven financing and its goal to support sustainable growth.
Beltone Leasing and Factoring holds a leading position in the Egyptian leasing and factoring market, providing solutions to a range of sectors, including real estate, logistics, transportation, healthcare, and food services. This new funding is expected to further enhance its capacity to support businesses in these areas while advancing sustainability efforts.
The SANAD Fund for MSME and GGF, both managed by Finance in Motion GmbH, aim to drive sustainable development by facilitating access to finance for underserved markets. Through local partnerships, SANAD promotes economic development and innovation, while GGF focuses on promoting energy efficiency and renewable energy across its operational regions.
Overall, this agreement signifies a strategic move towards integrating sustainable finance into the economic landscape of MENA, ensuring that both environmental and economic goals are pursued simultaneously.
