- GlobalCorp Group increased its paid-in capital by EGP 800 million, reaching EGP 1.4 billion, to support its strategic expansion in Egypt’s financial sector.
- The company aims to transition from B2B leasing and factoring to a full-scale NBFI platform serving both B2B and B2C clients.
- Existing shareholders, including EBRD, Amethis, and SPE Capital Partners, backed the capital hike, positioning GlobalCorp as Egypt’s top NBFI by paid-in capital.
- Since its founding, GlobalCorp has grown significantly, managing a portfolio of EGP 19 billion and achieving operating revenues of EGP 2.3 billion.
GlobalCorp Group, a leading non-banking financial services provider in Egypt, has increased its paid-in capital by EGP 800 million. This substantial hike raises the capital from EGP 600 million to EGP 1.4 billion, marking a significant milestone in the company’s strategic efforts to strengthen its footprint in Egypt’s financial sector.
The capital increase aligns with GlobalCorp’s long-term vision of evolving from a business-to-business (B2B) leasing and factoring provider into a comprehensive non-banking financial institution (NBFI) platform.
This transformation will enable the company to cater to both business and consumer segments (B2B and B2C), thereby broadening its impact on the financial services landscape in Egypt.
A key player in this expansion is Ollin, GlobalCorp’s consumer and mortgage lending subsidiary. Ollin aims to make financial services more accessible and inclusive, offering tailored solutions to meet the diverse needs of Egypt’s population. Through this initiative, GlobalCorp is actively contributing to financial inclusivity and economic development across the country.
The capital hike received strong backing from existing shareholders, including notable investors such as the European Bank for Reconstruction and Development (EBRD), Amethis, and SPE Capital Partners. With this support, GlobalCorp is now positioned as the leading NBFI in Egypt in terms of paid-in capital, further solidifying its role as a market leader.
Since its establishment, GlobalCorp has demonstrated remarkable growth. The company’s managed portfolio has reached EGP 19 billion, while its operating revenues stand at EGP 2.3 billion, reflecting its success and scalability.
Hatem Samir, Founder, Managing Director, and CEO of GlobalCorp, emphasized the importance of this development. He stated, “By expanding our capital base and transitioning into a comprehensive NBFI platform, we are better equipped to serve both businesses and consumers. This step empowers us to drive economic growth and promote financial inclusivity across Egypt.”
GlobalCorp’s strategic capital raise and expansion signify its commitment to innovation and leadership in Egypt’s financial services sector, setting the stage for sustained growth and broader economic impact.
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Last Updated on November 15, 2024 by Safiya K
