Beltone Financial Holding has announced a significant transaction between its subsidiary, Beltone Leasing and Factoring, and the Egyptian Company for Import and Export (EGMED), valued at EGP 200m. EGMED, a leading supplier and distributor of medical equipment in Egypt, has entered into this agreement to secure essential financing for its operational needs.
This transaction represents a landmark achievement for Beltone Leasing and Factoring, marking its inaugural factoring deal since receiving its license from the Financial Regulatory Authority in September 2023. The collaboration with EGMED is expected to be a cornerstone in the expansion of Beltone’s factoring portfolio.
Amir Ghannam, CEO of Beltone Leasing and Factoring, expressed his enthusiasm: “We are excited to embark on this journey with EGMED, initiating a strategic partnership that signifies a key development in our factoring services. This agreement not only provides crucial support for EGMED’s operations but also reinforces our dedication to delivering innovative financial solutions and solidifying our market presence.”
Amr Shaker, Chairperson of EGMED, also shared his perspective: “This pioneering factoring agreement with Beltone Leasing and Factoring is a pivotal moment in EGMED’s financial strategy. It reflects our dedication to adopting cutting-edge financing options that enhance our daily business activities and fortify our standing in the healthcare industry. We believe that Beltone’s expertise and strategic focus are perfectly aligned with our vision, and we are optimistic that this partnership will significantly contribute to EGMED’s ongoing success and expansion.”
