GlobalCorp raises paid-in capital by EGP 800M
Updated 11/12/2024 10:32:00 AM
Arab Finance: GlobalCorp Group, a prominent Egyptian non-banking financial services provider, has raised its paid-in capital by EGP 800 million to EGP 1.4 billion from EGP 600 million, according to an emailed press release.
This capital hike builds on the group’s strategic goal to expand its presence and services across Egypt's financial sector.
Additionally, GlobalCorp aims to strengthen its position by expanding from B2B leasing and factoring to a comprehensive NBFI platform catering to both B2B and B2C clients.
Its consumer and mortgage lending arm, Ollin, will play a key role in making financial services more accessible to a wider audience in Egypt.
The capital increase, supported by existing shareholders, including the European Bank for Reconstruction and Development (EBRD), Amethis, and SPE Capital Partners, is expected to make GlobalCorp the top NBFI in Egypt in terms of paid-in capital.
GC-Group has achieved impressive growth since its founding, with a portfolio under management now at EGP 19 billion and operating revenues totaling EGP 2.3 billion.
"By expanding our capital base and evolving into a comprehensive Non-Banking Financial Institution platform, we are positioned to better serve both businesses and consumers, empowering economic growth and financial inclusivity across the country," Hatem Samir, Founder, Managing Director, and CEO of GlobalCorp, said.
Related News
