Beltone Capital signs a framework agreement with CRIF

Cairo, October 8, 2023:

Beltone Financial Holding (“Beltone”), one of the fastest-growing investment banks, announces that its wholly owned subsidiary, Beltone Capital has signed a framework agreement with CRIF (“CRIF”) – a global company specializing in credit and business information systems, analytics, outsourcing and processing services, as well as advanced digital solutions for business development and open banking – to cooperate on ESG scoring, credit rating, data science and analytics, business information. The agreement covers potential cooperation in Egypt and the MENA region.

Mr. Carlo Gherardi, Chairman and CEO of CRIF, commented: “We are delighted to be partnering with Beltone Capital. This is an important step for us in consolidating CRIF’s presence in the market, which will benefit from our global expertise in consumer finance and business information. Furthermore, thanks to our Rating Agency and its knowledge of the SME segment, we will be able to provide support and value-added solutions tailored to the distinctive characteristics of the local market”.

Dr. Ibrahim Safwat, Beltone Capital CEO commented: “Beltone Capital’s investment platforms rely on data-driven fundamentals and modern financial technologies. This partnership with CRIF is another step towards solidifying our plans in making sound investment decisions across various industries”.

About CRIF Group:

CRIF is a global company specializing in credit and business information systems, analytics, outsourcing and processing services, as well as advanced digital and open banking solutions for business development. CRIF aims to create value for consumers, businesses and financial institutions by providing information and solutions that enable more powerful decision-making, improve access to credit and accelerate digital innovation. CRIF also offers fraud prevention and cybersecurity services to consumers and SMEs. Furthermore, CRIF Ratings, a credit rating agency authorized by ESMA and recognized as an ECAI, provides ratings on non-financial companies based in the EU. CRIF is also an AISP and PISP in all European countries where the PSD2 directive for open banking is applicable, and an AISP in the UK. Founded in Bologna in 1988, today the company operates in 40 countries across 4 continents, with over 6,000 professionals. Over 10,500 banks and financial institutions, more than 600 insurance companies, 90,000 businesses and 1,000,000 consumers currently use CRIF’s services.

About Beltone Capital:

Beltone Capital, a wholly owned subsidiary of Beltone Financial Holding, is the direct investments arm of Beltone Financial Holding. Beltone Capital channels investments in technology, food and agribusiness, real estate, infrastructure, and exporting industries. Beltone Capital is dedicated to developing data science solutions and providing a cognitive interpretation of statistical models across industries.

About Beltone Financial Holding:

Beltone Financial Holding (EGX: BTFH.CA) is a leading financial services provider with a multi-decade track record of success in the MENA region. The Company offers a comprehensive and growing set of financial solutions such as brokerage, investment banking, asset management, equity research, and private equity, in addition to end-to-end non-banking financial institutions (NBFIs) including leasing, factoring, consumer finance, venture capital, and microfinance. The Company is driven by a vision to redefine the financial ecosystem in the region by capitalizing on global expertise, knowledge, and disruptive, value-accretive solutions that unlock limitless opportunities for clients, to drive market value and impactful results.

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