GB Capital Launches 'Kredit': Pioneering SME Financing in Egypt with EGP 300 Million Commitment

GB Capital Launches 'Kredit': Pioneering SME Financing in Egypt with EGP 300 Million Commitment

By Staff Writer, 02 January 2024

GB Capital, an esteemed subsidiary of GB Corp, has recently unveiled its latest venture, "Kredit," aimed at bolstering financing avenues for small and medium-sized enterprises (SMEs) in Egypt.

Starting with an initial capital infusion of EGP 35 million, Kredit's commitment to the sector was further underscored as its capital was subsequently augmented to a robust EGP 300 million.

This strategic move falls squarely within GB Capital's overarching mission to champion financial inclusivity while galvanizing the burgeoning SME landscape in Egypt.

Kredit is set to roll out a gamut of financial solutions meticulously crafted to spur the nation's economic growth.

Tamer El Alamy, the dynamic CEO and Board Member of GB Capital, articulated, “Since its inception in the third quarter of 2023, Kredit has been laser-focused on pioneering groundbreaking financing solutions tailored explicitly for SMEs. This initiative seamlessly complements our existing array of financial services, spanning individual clients, major corporations, real estate financing, insurance, and more.”

On the operational front, Ahmed Imam, a pivotal Managing Board Member of Kredit, delineated the company's strategic roadmap.

He remarked, “Our vision transcends mere financial facilitation; we envisage a holistic expansion within Egypt's commercial ecosystem by catering to our target demographic.

Kredit is poised to craft avant-garde financing modalities attuned to the specific exigencies of diverse sectors, with a pronounced emphasis on entrepreneurs, eco-friendly initiatives, manufacturing units, exporters, and prospective corporate expansions.”

Further elucidating Kredit's distinctive value proposition, Imam elucidated, “Our modus operandi pivots on three pillars: accessibility, expediency, and unimpeachable transparency. We are unwaveringly committed to not only meeting but exceeding customer expectations, bolstered by an array of supplementary services designed to enrich our clientele's financial journey.”

Fatma Salah / Daily News Egypt

Related Report

Future of Fintech in Africa

The Future of Fintech in Africa

18% of the world’s population lives in Africa, and 57% of Africans are ‘unbanked’, living without a bank account or a digital wallet to their Name. The opportunity is massive, which is why fintech is the most dominant and most funded tech sector in Africa, today.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems