Beltone Secures $20M Boost to Drive MENA’s Green and Inclusive Finance

It’s always encouraging to see major steps being taken towards sustainable and inclusive financial growth here in the MENA region. Beltone Leasing and Factoring, a wholly owned subsidiary of Beltone Holding, recently clinched a pretty substantial funding agreement worth USD 20 million, split evenly between the SANAD Fund for MSME and the Green for Growth Fund (GGF). Both funds are managed by the German impact asset manager, Finance in Motion GmbH.

I reckon securing funding of this scale is about more than just money. It signals confidence in the company's strategy and opens up important doors for smaller businesses and green initiatives alike. After all, MSMEs—those micro, small, and medium enterprises—are often the backbone of our region’s economy. The SANAD fund's portion will essentially support these small ventures and low-income households, helping broaden financial inclusion across the region. As someone who's seen my fair share of startups here at Arageek, this hits the sweet spot, empowering entrepreneurs and fueling growth exactly where it matters most.

On the flip side, GGF will be directing its USD 10 million towards renewable energy projects, increased energy efficiency, and sustainable resource management. With sustainability riding high on global agendas, this injection of funding seems spot on, reflecting the increasingly pivotal role of responsible investment in the region.

Commenting on the agreement, Amir Ghannam, Deputy Head of Non-Banking Financial Institutions (NBFIs) for Leasing, Factoring, and Consumer Finance at Beltone, emphasised how critical foreign currency funding from institutions like SANAD and GGF is, as it allows the firm to diversify capital sources and offer more competitive solutions. He highlighted how the funding would allow them to step up support for MSMEs and accelerate green projects vital for a resilient future.

Equally optimistic, Sherif Hassan, Group Treasurer and Managing Director of Debt Capital Markets, noted that this collaboration notably underscores Beltone’s dedication to ESG-driven investments and demonstrates a strong partnership with Finance in Motion.

For those who might not know Beltone well, they’re quite a name in financial services across MENA, bringing an impressive array of solutions—ranging from brokerage to asset management, real estate finance, consumer lending, and venture capital. A real jack-of-all-trades in financial innovation, I must say.

Meanwhile, SANAD Fund for MSME has long been active across MENA and parts of sub-Saharan Africa, heavily bolstered by international backers like Germany’s KfW and Switzerland’s SECO. It focuses on employment-intensive projects and financial inclusion, making sure its impact is as widespread as possible. GGF has similar ambitions—promoting sustainable energy solutions and carbon reduction throughout the broader region, supported by both public and private sector collaborations.

It’s great to see regional companies pursuing such strategic deals—I’m personally chuffed to bits each time financing flows towards sustainable and inclusive solutions here in MENA. These deals have the potential to transform entire communities and industries alike. And believe it or not, despite global turbulence in recent months, investments like these show that faith in our regional economies remains strong indeed.

Sidenote: Quick apology if there’s been a minor slip-up or a mispelling somewhere here—you know, English might not be my first language, but the energy and ambition of these ventures speak volumes, right?

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