• Wednesday, 15 February 2023

    Ripplewood flips big part of its EFG Hermes stake to Chimera, others

    EFG Hermes’ second-largest shareholder, Tim Collins’ Ripplewood, has sold two thirds of its position in a series of block transactions on the EGX on Monday, according to trading data out yesterday. Units of the US-based investment firm sold almost 92...
  • Thursday, 2 February 2023

    Tarek Yehia appointed head of IR at Beltone Financial

    Beltone Financial Holding has appointed our friend Tarek Yehia (LinkedIn) as its new investor relations head, according to an EGX disclosure (pdf). Yehia was previously head of IR at EK Holding for over a year, following 12 years of IR...
  • Sunday, 22 January 2023

    Ex-Beltone execs launch SME finance outfit Invia

    Former Beltone Financial executives are launching new fintech startup Invia, which will provide financial services to informal small businesses that have limited access to financing, the National reports.Behind the company: Yehia Ashour (LinkedIn), former CEO and co-founder of Beltone’s SME...
  • Tuesday, 22 November 2022

    The finance industry should be cheering the ‘upheaval’ at Beltone

    Employees at Beltone SME have reportedly resigned en masse in what Bloomberg Asharq reports is opposition to a restructuring being carried out by the parent company, Beltone Financial. The newspaper claims staff at Beltone’s SME unit handed in their notices...
  • Thursday, 27 October 2022

    Another subsea cable for our regional data hub ambitions

    Telecom Egypt inaugurated its Red2Med submarine cable which runs from Ras Ghareb’s Red Sea to Port Said’s Mediterranean through the Suez Canal, according to a statement. The cable is the “shortest, fastest and most secure way to transfer data between...
  • Thursday, 1 September 2022

    Beltone elects new board members following Chimera acquisition

    Beltone Financial shareholders have elected four new board members as part of its restructuring of the board following Chimera Investments’ acquisition of a majority stake in the firm, according to an EGX disclosure (pdf). For a period of three years,...
  • Thursday, 25 August 2022

    Beltone Financial turns a loss in 2Q 2022

    Beltone Financial returned to the red in 2Q 2022, recording EGP 109.4 mn in net losses after making a EGP 4.7 mn profit in the same period last year, according to its consolidated financials (pdf). Revenues were down 1% to...
  • Monday, 22 August 2022

    OFH is setting up a fund for tech startups

    OFH swaps Beltone for fintech: Orascom Financial Holding (OFH) is using the sale of its shares in Beltone Financial to expand its footprint in the tech space. The company is planning to establish a EGP 300-500 mn tech fund and...
  • Tuesday, 9 August 2022

    Dalia Khorshid appointed Beltone CEO

    Former investment minister and Masar chairwoman Dalia Khorshid (LinkedIn) has been appointed the new managing director and CEO of Beltone Financial effective today, Hapi Journal reports. The decision was made at a board meeting yesterday called by the company’s new...

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