Egypt: SCZONE inaugurates Beltone Leasing, Factoring branch at Sokhna headquarters
Egypt - The General Authority of the Suez Canal Economic Zone (SCZONE) has officially inaugurated a new branch of Beltone Leasing and Factoring at its headquarters in the Sokhna Industrial Zone. The ceremony was attended by Ahmed Saad, CEO of SCZONE, and Amir Ghannam, Deputy Head of Non-Banking Financial Institutions (NBFIs) for Leasing, Factoring, and Consumer Finance.
Beltone Leasing and Factoring, a wholly owned subsidiary of Beltone Holding, received approval from the Financial Regulatory Authority (FRA) to establish operations at SCZONE, making it the first non-banking financial institution to do so. This strategic move underscores the growing role of SCZONE as a hub for industrial investment, international trade, and regional logistics.
Waleid Gamal El-Dien, Chairperson of SCZONE, described the inauguration as a significant step toward enhancing the zone's investment environment. 'The opening of Beltone Leasing and Factoring's branch within our Sokhna headquarters marks a qualitative leap in providing specialized financial services that facilitate effective financing and investment solutions,' he said. 'It supports our broader strategy to build an integrated financial infrastructure that meets the expanding needs of industrial and logistics activities. SCZONE remains committed to attracting leading financial institutions to its industrial zones to reinforce a dynamic and supportive investment climate.'
Amir Ghannam emphasized the broader economic impact of the new branch, noting: 'This step opens new avenues for financing industrial projects and supporting strategic export activities, thereby contributing to national economic development goals.'
The launch of Beltone Leasing and Factoring's Sokhna branch is aligned with SCZONE's ongoing efforts to strengthen its service ecosystem for investors. These include the implementation of a one-stop-shop service, the digital transformation of investor services, and the presence of banking institutions and integrated logistical and industrial support. Together, these initiatives aim to streamline procedures, enhance operational efficiency, and align SCZONE's services with international best practices in investment facilitation.
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