The Egyptian holding company Beltone Financial announced at the end of the week, in a statement quoted by Reuters, its intention to take a majority stake in Oragroup, the holding company at the head of the Orabank network.
The challenge for the Cairo-based firm, focused primarily on MENA, North Africa and the Middle East, is to gain a foothold in sub-Saharan Africa through the banking group in 12 countries in West Africa. of the Center.
Beltone Financial, founded in 2002, is a subsidiary of Orascom Telcom Media and Tech, the group of Egyptian billionaire Naguib Sawiris. It is a financial holding company active in 4 business areas: investment and finance banking, securities brokerage, asset management and financial advice.
At the end of 2017, Oragroup achieved a net banking income of 108 billion CFA francs, or 197.4 million dollars, and a net profit up sharply by 45% to 21.97 billion FCFA, or 40.1 million dollars.
