GlobalCorp’s Capital Increase by $16.2M Signals Growth in Egypt’s NBFI Market

Hatem Samir, GlobalCorp Founder, Group MD, and CEO

GlobalCorp Group, a prominent Egyptian non-banking financial services leader, announced a substantial capital increase on Tuesday, showcasing its growth and strong investor confidence. This initiative aligns with the company’s strategic goal of broadening its reach across Egypt’s non-banking financial institution (NBFI) sector.

As part of this expansion, GlobalCorp aims to diversify its services beyond B2B leasing and factoring solutions, transforming into a comprehensive NBFI platform serving both B2B and B2C clients. This shift will be bolstered by Ollin, GlobalCorp’s consumer and mortgage lending branch, which will play a crucial role in building a more inclusive financial landscape in Egypt.

To support this expansion, GlobalCorp will raise its issued capital from EGP 1 billion to EGP 1.5 billion and its paid-in capital from EGP 600 million to EGP 1.4 billion by the end of 2024, fueled by additional contributions from current shareholders. With this increase, GlobalCorp is set to become Egypt’s top NBFI by paid-in capital. Since its inception, the group has achieved a 47% CAGR, with a portfolio now worth EGP 19 billion and consolidated operating revenues reaching EGP 2.3 billion, reflecting a CAGR of 42%.

Source: Daily News Egypt