Kredit, a subsidiary of GB Capital, has been established in Egypt to provide financial support to small and medium-sized enterprises (SMEs) with an initial capital of EGP 35 million, which has since been increased to EGP 300 million. Kredit’s core mission is to contribute to financial inclusion and facilitate the growth of SMEs in Egypt.
According to Tamer El Alamy, CEO and Board Member of GB Capital, Kredit was launched in the third quarter of 2023 to offer innovative financing solutions specifically tailored for SMEs. This initiative complements the existing range of financial services provided by GB Capital, which include services for individuals, large companies, real estate financing, insurance, discounting, and factoring.
Kredit Managing Board Member, Ahmed Imam, highlighted the company’s plan and unique approach to expanding its business in the Egyptian market by providing financing to various sectors. Kredit intends to design creative financing methods that address the specific needs of entrepreneurs, green projects, manufacturers, exporters, and potential expansions for companies.
Imam further emphasized that Kredit will adopt a unique approach, prioritizing accessibility, speed, and transparency in meeting customer requirements, while also offering additional services to enhance the overall customer experience.
