Established in 2015, GlobalCorp is a non-banking financial leader that specializes in leasing and factoring solutions for corporates and small, medium, and large enterprises
A consortium of investors has acquired a majority stake in one of Egypt’s leading non-banking financial services (NBFS) companies, GlobalCorp for Financial Services S.A.E (GlobalCorp), revealed a joint statement on Tuesday.
The consortium is comprised of the European Bank for Reconstruction and Development (EBRD), French investment fund manager Amethis, and SPE Capital. The number of shares acquired and the amount of the transaction have not been disclosed yet.
“We are very happy to welcome our new partners to GlobalCorp. The backing of leading international financial institutions is a testimony to GlobalCorp’s success and unique profile in the market,” said Hatem Samir, GlobalCorp's Group CEO and Managing Director.
Established in 2015, GlobalCorp is a non-banking financial leader that specializes in leasing and factoring solutions for corporates and small, medium, and large enterprises.
“We have ambitious plans for the company and look forward to combining our strengths to create value for all our stakeholders,” Samir said.
Heike Harmgart, EBRD managing director, also added: “This investment will support a leading financial company to provide financing to an important segment of the Egyptian economy, covering small and medium businesses.”
Partnering with the company’s management, the consortium will work on scaling GlobalCorp’s infrastructure and operations, investing in technology, and advancing the company’s impact agenda, including the promotion of greater financial inclusion, financing to SME clients and green initiatives, as well as promoting leading ESG and client protection standards within the NBFS industry.
“This is the first investment of Amethis in Egypt, which is now a core market for our funds,” added Adnane Zerhouni, investment director at Amethis.
