Cairo – December 09, 2024:
Beltone Holding (“Beltone”), announced today that its wholly owned subsidiary, Beltone Capital, has signed a joint-venture agreement with CRIF S.p.a. (“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 launch a new entity offering a holistic set of solutions in the Egyptian market, with potential to expand services into the MENA region.
The newly launched company will commence operations upon receiving the final approval from the Financial Regulatory Authority (FRA), it will offer debt capital market instrument ratings, SME & corporate borrower ratings, NBFI portfolio ratings, ESG services, unsolicited ratings, and onboarding technology for lenders.
Carlo Gherardi, Chairman, at CRIF stated, “Partnering with Beltone aligns with our vision to generate value and create new opportunities by providing reliable ratings, business information services and cutting-edge solutions.
This cooperation leverages our multi-decade experience in scoring and business information systems as we enter a rapidly-growing market with the perfect partners.”
Dalia Khorshid, Group CEO and Managing Director of Beltone Holding stated, “This partnership reflects Beltone’s commitment to serving the market with innovative, data-backed solutions.
Together, we will deliver unmatched services that combine CRIF’s credit rating track-record with Beltone’s on-ground knowledge and data-driven approach.”
The newly established company will provide comprehensive services in accordance with the stipulations outlined in the Financial Regulatory Authority’s Decision No. 151 of 2023.
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