Beltone Holding, a leading financial services provider in the Mena region, has announced that its wholly-owned subsidiary, Beltone Capital, has signed a joint-venture agreement with CRIF, a leading company specialising in credit and business information systems, to launch a new entity offering a holistic set of ratings solutions in the Egyptian market, with potential to expand services into the Mena region. 

 

A global company, CRIF is also an expert in analytics, outsourcing and processing services, as well as advanced digital solutions for business development and open banking.

 

On the new venture, Carlo Gherardi, the Chairman at CRIF, said: "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," he stated.

 

Upon receiving the final approval from the Egyptian Financial Regulatory Authority (FRA), the new company will start offering debt capital market instrument ratings, SME & corporate borrower ratings, NBFI portfolio ratings, ESG services, unsolicited ratings, and onboarding technology for lenders, he added.

 

Dalia Khorshid, Group CEO and Managing Director of Beltone Holding, said this partnership reflects its 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," he noted.

 

Founded in Bologna in 1988, CRIF today operates in 37 countries across four continents, through more than 6,400 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.