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EBRD consortium acquires Egypt’s GlobalCorp

EBRD consortium acquires Egypt’s GlobalCorp
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Cairo - Mubasher: Amethis, the European Bank for Reconstruction and Development (EBRD), and SPE Capital has acquired a major stake in GlobalCorp for Financial Services (GlobalCorp), an Egypt-based non-banking financial services institution (NBFS).

The consortium will partner with GlobalCorp’s management team to expand the company’s operations and technology investment, according to a recent press release.

Moreover, the partnership aims to finance small and mid-size enterprise (SME) customers and promote the environmental, social, and governance (ESG) criteria within the NBFS industry.

Founded in 2015, GlobalCorp provides leasing and factoring services for SME businesses and corporates.

The Founder, CEO, and Managing Director of GlobalCorp, Hatem Samir, said: "We have ambitious plans for the company and look forward to combining our strengths to create value for all our stakeholders."

Meanwhile, EBRD’s Managing Director for the Southern and Eastern Mediterranean region, Heike Harmgart, commented: "This investment will support a leading financial company to provide financing to an important segment of the Egyptian economy, covering small and medium businesses."