Arab Finance: Cash for Microfinance, a wholly owned subsidiary of Beltone Financial Holding, aims to maximize its capital base to EGP 500 million, according to a press release on October 4^th.

This comes as part of the company’s expansions plans and strategic objectives.

The company plans to submit an application to the Financial Regulatory Authority (FRA) for a small and medium-sized enterprises finance license, which will enable customers to get funding for up to EGP 5 million per project.

“We aim to increase the number of branches to 50 branches by the end of 2023, to reach 150 branches by the last quarter of 2024, to provide financing solutions to more than 100,000 customers during the coming period by expanding throughout Egypt, especially in underserved areas in Upper Egypt, Nile Delta, El Wadi Elgedid and the Red Sea,” Cash for Microfinance CEO Morcos Nabil said.

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