Latest news with #BeltoneLeasingandFactoring
Daily News Egypt
9 hours ago
- Business
- Daily News Egypt
Egypt's Beltone Leasing secures $20m from German-managed funds
Beltone Leasing and Factoring, a subsidiary of Egypt's Beltone Holding, has secured $20m in funding from two impact investment funds managed by Germany-based Finance in Motion GmbH. The funding is divided equally, with $10m from the SANAD Fund for MSME and $10m from the Green for Growth Fund (GGF), the company said. The agreement has a repayment tenor of five years. SANAD's contribution will be used to support financial inclusion for micro, small, and medium enterprises (MSMEs) and low-income households across the Middle East and North Africa (MENA). The portion from GGF will be allocated to financing renewable energy, energy efficiency, and sustainable resource use initiatives in MENA and neighbouringregions. The company said the transaction is part of its strategy to deliver non-bank financial solutions that promote economic empowerment and environmental sustainability, in line with Egypt's Vision 2030 and its commitment to sustainability across its operations. Amir Ghannam, Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance, said: 'Securing foreign currency funding from institutions like SANAD and GGF enhances our ability to diversify our capital base and offer more competitive financing solutions. 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, said: 'This funding reflects our strong collaboration with Finance in Motion and our 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.' Both funds are managed by Finance in Motion GmbH, an impact asset manager focused on sustainable development in emerging economies, in collaboration with development finance institutions, private investors, and governments.
Zawya
21-02-2025
- Business
- Zawya
Egypt: Beltone's unit enters $79mln deal for sports project
Cairo – Beltone Leasing and Factoring, a subsidiary of the listed Beltone Holding, recently signed a syndicated leasing term sheet amounting to EGP4 billion with Al Qalaa Al Hamraa for Facilities Management, according to a press release. The collaboration aims to finance the construction of Al Ahly Club's stadium and its adjoining sports city in Sheikh Zayed, known as the Project of the Century for being one of the largest sports and entertainment developments in Egypt. The project will feature a world-class 42,000-seat stadium, an innovative sports hospital, a sports museum, a leading university, a specialised sports school, and a hotel, further enhancing Egypt's position on the global and regional sports stage. Deputy Head of NBFIs – Leasing, Factoring & Consumer Finance at Beltone Leasing & Factoring, Amir Ghannam, said: "This partnership underscores our commitment to financing transformative projects that drive economic growth and community development.' Ghannam noted: 'Project of the Century is set to become a landmark in Egypt's sports infrastructure, redefining the nation's sports investment landscape. We are proud to support its realization and contribute to a project of this scale and significance." Beltone Investment Banking acts as the exclusive financial advisor to Al Qalaa Al Hamraa Company in the development and capital raising for Al Ahly Club's project, reinforcing its commitment to supporting strategic investments that drive economic growth. Chairman and CEO of Al Qalaa Al Hamraa, Mohamed Kamel, said: 'Al Ahly Stadium represents a groundbreaking milestone in the investment and development of Egypt's sports sector, strengthening the country's presence on both the regional and global sports stage.' Kamel added: 'We are also proud to collaborate with Beltone Leasing and Factoring as our strategic partner in this national endeavor. Together, we are committed to establishing an inclusive sports city—an iconic destination that will serve as a premier hub for sports enthusiasts across Egypt.' By integrating world-class sports, educational, and medical facilities, Al Ahly Club Sports City will foster a dynamic and healthy community. It is worth noting that the parent company Beltone registered a consolidated net profit of EGP 1.78 billion in 2024 as well as revenue worth EGP 7.42 billion.
Al-Ahram Weekly
12-02-2025
- Business
- Al-Ahram Weekly
Al Qalaa Al Hamraa confirms Ahly stadium project to cost EGP 8-9 billion - Egyptian Football
One day after signing a major EGP 4 billion ($80 million) financing deal with Beltone Leasing and Factoring, Al Qalaa Al Hamraa for Facilities Management has confirmed that the total cost of Ahly's new stadium and sports city will range between EGP 8-9 billion. The financing agreement, which was sealed on Tuesday, marks a critical step in delivering what has been dubbed the "Project of the Century"—a 42,000-seat stadium along with a sports hospital, museum, university, sports school, and hotel in Sheikh Zayed City. While the initial EGP 4 billion investment will fund a significant portion of the first phase, sources close to the project say that additional financing will be secured to cover the remaining costs. 'This is more than just a stadium; it's a comprehensive sports investment project that will change the landscape of Egyptian football,' said Mohamed Kamel, CEO and Chairman of Al Qalaa Al Hamraa. The project has been a long-standing ambition for Ahly, whose board approved the initial designs on Monday. Despite previous attempts—such as securing a 25-year lease of Al-Salam Stadium in 2019—the club has continued to rely on Cairo International Stadium for its high-profile matches. The latest updates on the project are expected to be revealed during Friday's FIFA Club World Cup trophy ceremony, where Ahly officials will provide further insights into the stadium's construction timeline and long-term vision. (For more sports news and updates, follow Ahram Online Sports on Twitter at @AO_Sports and on Facebook at AhramOnlineSports.) Short link:
