Cairo – Mubasher: Beltone Leasing and Factoring, a wholly owned subsidiary of Beltone Holding, has launched a new branch in the Sokhna Industrial Zone, according to a press release.

Ahmed Saad, CEO of the General Authority of the Suez Canal Economic Zone (SCZONE), and Amir Ghannam, Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance, attended the branch opening following the company’s approval from the Financial Regulatory Authority (FRA).

This expansion positions Beltone Leasing as the first non-banking financial institution to commence operations in the SCZONE.

Waleid Gamal El-Dien, Chairman of SCZONE, commented: "This move is part of SCZONE’s broader strategy to establish an integrated financial infrastructure that keeps pace with the growing needs of industrial and logistics activities."

“We continue to attract major financial entities to our industrial zones, reaffirming our commitment to creating a stimulating investment climate that support investments and investors, drives sustainable development, and supports the national economy,” Gamal El-Dien stated.

Ghannam said: "“This step opens new avenues for financing industrial projects and strategic export activities, thereby contributing to economic development and supporting national growth objectives."

The SCZONE will provide features, including one-stop shop service, digital transformation of investor services, the presence of various banks, and the integration of industrial and logistical support services

Last May, Beltone Leasing closed its second securitization issuance in less than a year, with a total value of EGP 2 billion.