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Key Points
- Beltone Holding raises EGP10.5 billion ($205 million) in capital with a 98% subscription rate, fueling its expansion and growth strategy.
- Foreign investors provide most of the funds, underscoring Beltone's growing international presence.
- Under Dalia Khorshid, Beltone’s revenue and net profit surged in 2024, driven by its Non-Banking Financial Institutions platform and strategic diversification.
Beltone Holding, the Cairo-based financial services group led by Egyptian business executive Dalia Khorshid, has successfully completed its second capital increase, raising EGP10.5 billion ($205 million) with a 98 percent subscription rate. The strong response reflects growing investor confidence in the company’s performance and future plans, positioning it to press ahead with its ongoing expansion drive.
Beltone's capital boost to fuel growth
In a press release, the company said most of the funds came from foreign investors—another sign of Beltone’s rising profile on the international stage. The fresh capital will be used to grow its footprint across high-potential markets, invest in scalable digital platforms, expand its product lineup, and attract top talent to support its next phase of development.
Khorshid, who has steered Beltone’s transformation since taking the helm, called the raise a “defining milestone” for the company. “This second capital increase reflects the trust we’ve earned from our shareholders and the market’s belief in our direction,” she said. “With a data-driven strategy and a truly exceptional team, we’re scaling up our platforms with a sharp focus on digital transformation, AI, and regional growth.”
Dalia Khorsid’s leadership fuels Beltone’s surge
Founded in 2002, Beltone Holding has grown into one of the MENA region’s leading financial services providers. Under Dalia Khorshid, the company has evolved well beyond its roots in brokerage and investment banking. Today, it offers a wide range of services, including asset management, private equity, leasing, factoring, consumer and mortgage finance, venture capital, and microfinance.
This strategic shift is already bearing fruit. In 2024, Beltone’s consolidated revenue soared nearly fourfold to EGP7.2 billion ($143.2 million), up from EGP1.87 billion ($37.2 million) the year before. Much of this growth came from the rapid rise of its Non-Banking Financial Institutions (NBFIs) platform and the continued strength of its Investment Bank.
Net profit followed suit, rising sharply to EGP1.7 billion ($33.8 million) in 2024—up from EGP369 million ($7.4 million) a year earlier. The NBFIs platform was a key driver, growing its revenue nearly sixfold to EGP5.8 billion ($115 million), thanks to broader financial offerings and a significant jump in lending activity. By year-end, the platform’s outstanding portfolio had more than doubled to EGP21.5 billion ($427.7 million).
Beltone’s record year reflects strong strategy
Looking back on the year, Khorshid said the company’s results speak to the power of its strategy and team. “Beltone’s record-breaking performance in 2024 is a testament to our vision, our efficiency, and the strength of our people. We’re staying focused on expanding into fast-growing markets and continuing to invest in the technology and talent that will take us further.”
