Beltone to complete Cash takeover in 3, 2, 1… Beltone Financial Holding has inked a share purchase agreement to acquire 100% of Minya-based microfinance provider Cash after completing due diligence on the company, the company said in a filing to the EGX (pdf) yesterday. The acquisition of Cash will be executed through the company and a number of its subsidiaries, according to the disclosure. Beltone declined to comment yesterday on the value of the transaction or its plans for Cash.

What’s next: Beltone is waiting on the approval of the Financial Regulatory Authority before finalizing the acquisition, it said.

Remember: Beltone last month received the greenlight from the FRA to conduct due diligence on Cash, almost a week after it inked an MoU to acquire the company.

AND- Beltone launches a new VC arm: Beltone launched a VC arm, dubbed Beltone Venture Capital, earlier this year with the aim of providing early stage funding to tech-enabled startups in impact sectors, the company’s communications chief Mamdouh Abdelwahab told us. BVC is looking to invest with average ticket sizes of USD 250k, he said, adding that the firm currently holds a minority stake in healthcare startup Sehatech, and has also invested in Bosta and Wayup Sports. Abdelwahab declined to comment on the size of the firm’s current portfolio or its targeted investments.

ICYMI- Beltone has plenty of dry powder after in July closing a landmark EGP 10 bn capital increase, placing some 5 bn new shares on the EGX.

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