GB Capital, a subsidiary of GB Corp, has launched a new subsidiary, “Kredit,” to finance small and medium-sized enterprises (SMEs) in Egypt. Kredit started with an initial capital of EGP 35m, which was increased to EGP 300m, reflecting the importance of this sector.
Kredit is part of GB Capital’s strategy to promote financial inclusion and support the growth of SMEs in Egypt. It offers comprehensive financial solutions that help develop the Egyptian economy.
Tamer El Alamy, CEO and Board Member of GB Capital, said: “Kredit aims to provide innovative solutions for financing SMEs after its launch in the third quarter of 2023. This adds to the current financial services offered by the group to individuals, large companies, real estate financing, insurance, discounting, and factoring.”
Ahmed Imam, Managing Board Member of Kredit, said: “We plan to expand our business portfolio in the Egyptian market by financing the targeted category. We will design innovative financing methods to meet the needs of each sector in Egypt. The company focuses on entrepreneurs, green projects, manufacturers, exporters, and potential expansions for companies.”
Imam added: “Kredit will adopt a different approach, emphasizing ease of access, speed and transparency in meeting customer needs, and providing additional services.”
