EBRD-led consortium acquires Egypt-based non-banking services provider GlobalCorp

Doaa A.Moneim , Tuesday 10 May 2022

A consortium of investors that includes Amethis, the European Bank for Reconstruction and Development (EBRD), and SPE Capital has acquired a majority stake of the Egypt-based GlobalCorp, a non-banking financial services provider, the parties announced on Tuesday in a joint statement.



Established in 2015, GlobalCorp is an Egyptian non-bank lender focusing on leasing and factoring solutions for corporates and small, medium and large enterprises. 

The company’s leased assets include production lines, equipment and machinery, vehicles, and commercial/industrial real-estate while the factoring product portfolio covers a range of short-term financing solutions. 

Since its inception, GlobalCorp has extended EGP 13 billion ($715 million) of credit through over 800 leasing and factoring contracts spanning more than 30 industries, with over 25 percent of its portfolio serving small and medium-sized enterprises (SMEs) as well as green financing. 

The company also arranged Egypt’s first and largest factoring syndication and completed its first securitisation at the end of 2021.

“The backing of leading international financial institutions is a testimony to GlobalCorp’s success and unique profile in the market. We have ambitious plans for the company and look forward to combining our strengths to create value for all our stakeholders,” said GlobalCorp’s CEO and founder Hatem Samir.

Adnane Zerhouni, an investment director at Amethis, noted that the action will contribute to financial inclusion in Egypt, adding that this is the first investment of Amethis in Egypt, which is now a core market for his company’s funds.

For her part, EBRD Managing Director for the Southern and Eastern Mediterranean Region Heike Harmgart expounded that such a transaction is the bank’s first equity investment in a financial institution in Egypt and its first partnership in Egypt’s leasing and factoring sector. 

“This investment will support a leading financial company to provide financing to an important segment of the Egyptian economy, covering small and medium businesses”, she further explained.

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