Cairo-Mubasher: Ghabbour Auto (GB Auto) launched a microfinance company with capital of EGP 40 million.

The new firm named "Tasheel for microfinance services" will provide various finance schemes for young entrepreneurs with limited financial resources.

The new firm will be 90% owned by GB Capital, the financial arm of GB Auto for finance activities, while the remaining 10% will be owned by EQI company.

GB Auto is capitalised at EGP 1.1 billion, distributed across 1.1 million shares at EGP 1 par value each.