JOHANNESBURG - Egypt’s Beltone Financial is seeking a controlling stake in Oragroup, which owns banks in 12 African countries, as the company looks to expand its financial services on the African continent, Reuters reported. 

Beltone Financial, listed on the Cairo exchange and one of the country’s largest asset managers and financial services companies, said its board had agreed to sign a non-binding offer to set out indicative terms for the transaction.

- African News Agency (ANA)