Both Cairo for Investment and Real Estate Development (CIRA) and Beltone Consumer Finance (Belcash) have announced their partnership to offer education loan products to CIRA parents.
The product allows parents to pay their tuition fees over 12 equal monthly instalments with minimal documentation and instant approval.
Mohamed El Kalla, CEO of CIRA, said, “I’m proud of our new partnership with Belcash to offer our parents another financing method for paying their tuition fees, which will be an optional method besides the current payment models that CIRA adopts.”
El Kalla added, “This comes in line with our strategy to help our parents ease the burden of education tuition fees, and by partnering with Beltone Consumer Finance, we will be rolling out the pilot phase in seven schools with the rest of the schools to follow shortly.”
Ibrahim Karam, Group CEO of Beltone Financial Holding, said, “We’re very happy with our new partnership with CIRA marking our first official agreement with a school offering consumer finance solutions through Beltone Consumer Finance – Belcash.”
Karam added, “Our agreement with CIRA is the first towards entering the education finance market whereby we will be pursuing several agreements with the biggest schools in Egypt, to further strengthen our position in the Egyptian market as a major player in the Education Finance sector.”
CIRA is the largest integrated provider in the field of education services in Egypt, with more than 29 years of experience. It owns and operates 21 schools in nine governorates across Egypt using multiple brands and education curricula, including American, French, German, and Canadian education systems.
CIRA is also active in the Higher Education segment, owning and operating Badr University in Cairo (BUC). It serves more than 40,000 students in the basic and higher education segments.
Beltone Financial is a leading regional investment bank offering a full range of financial services to companies, institutions, and high-net-worth individuals in the Middle East, Europe, North America, and Asia.
It is the largest non-bank affiliated asset manager in Egypt with around EGP 26bn in AUMs, and is a leading provider of independent equity research in the region. The firm’s track record includes the execution of over EGP 110bn in M&A and capital markets transactions.
Beltone Financial setup three new subsidiaries last year, to establish its non-bank financial services (NBFS) platform, comprising Beltone Consumer Finance (Belcash), Beltone Leasing, and Beltone Venture Capital.
Meanwhile, Belcash is the consumer finance arm of Beltone Financial, offering several products and services targeting and empowering individual customers, conveniently enabling them to “Buy Now Pay Later” via easy instalment plans.
