Emirates NBD inks EGP 20B credit facility with El Sewedy Electric for regional expansion
Updated 10/29/2025 1:12:00 PM
Arab Finance: Emirates NBD Group signed a credit facility agreement with Elsewedy Electric Company at a value exceeding EGP 20 billion, according to a press release.
The facility aims to support the group’s expansion plans across Egypt, Saudi Arabia, and the UAE.
It also aligns with Emirates NBD’s commitment to supporting major industrial projects, particularly in the energy and infrastructure sectors, which are key pillars of regional economic development.
The transaction was completed in Egypt and was overseen by Ramy Gobran, Group Treasury Director at Elsewedy Electric Group, along with Yasmine Nassar, Team Head, Large Corporates Division, at Emirates NBD Egypt, and Yara Khaled, Global Relationship Manager, Large Corporates Division, at Emirates NBD Egypt, who played a central role in structuring and monitoring all phases of the facility’s execution.
Tamer Ragheb, Head of Corporate and Institutional Banking at Emirates NBD Egypt, stated: “We worked closely with the group’s team to develop tailored financing solutions that precisely meet their expansion needs, particularly in vital sectors such as energy and manufacturing.”
He added: “This partnership embodies our customer-centric approach, rooted in a deep understanding of our clients’ evolving needs and our ability to translate these insights into practical financial tools that enable them to achieve their growth and development objectives.”
From his side, Moaz Hashem, Head of Large Corporate Banking at Emirates NBD Egypt, commented: “This collaboration further strengthens our presence in the Egyptian market by providing value-added banking services that cater to the aspirations of leading institutions, while driving comprehensive economic development, boosting exports, and creating more job opportunities.”
Meanwhile, Ahmed Shokry, Chief Financial Officer of Elsewedy Electric Group, highlighted the group’s financial position as of the first half (H1) of 2025, indicating that the contracted business volume reached EGP 261 billion.
He indicated that nearly 70% of the revenues come from international operations and exports, with total revenues amounting to EGP 232 billion at the end of 2024.
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