Home » Egyptian businessman Hatem Samir’s GlobalCorp acquired by SPE Capital

Egyptian businessman Hatem Samir’s GlobalCorp acquired by SPE Capital

by Omokolade Ajayi

GlobalCorp, a leading Egyptian non-banking financial services company led by businessman Hatem Samir, has been acquired for an undisclosed fee by SPE Capital, a Middle East and Africa-focused private equity firm in a consortium led by Amethis and the European Bank for Reconstruction and Development (EBRD).

According to a press release obtained by Billionaires.Africa, SPE Capital and the consortium will invest in GlobalCorp alongside Samir, the founder, and CEO of the non-banking financial services company, in collaboration with its highly capable management team.

The consortium will also collaborate with GlobalCorp’s management on scaling the company’s infrastructure and operations, investing in technology, and advancing its impact agenda.

The investment will include a primary capital investment to further scale the company’s portfolio and expand into new business segments.

According to Adnane Zerhouni, investment director at Amethis, the partnership with Samir and his team at GlobalCorp represents Amethis’ first investment in Egypt and will propel the company’s growth, thereby contributing to financial inclusion in Egypt.

Samir, GlobalCorp’s founder, CEO and managing director, stated that the support of leading international financial institutions demonstrates the company’s success and unique market profile.

“We are very happy to welcome our new partners to GlobalCorp. We have ambitious plans for the company and look forward to combining our strengths to create value for all our stakeholders,” he said.

GlobalCorp is a leading Egyptian non-bank lender that specializes in leasing and factoring solutions for corporations as well as small, medium, and large businesses.

Samir, who founded GlobaCorp in 2015 and owns 10 percent of the Egyptian financial services firm, is a seasoned leasing expert with more than 25 years of experience in a variety of countries, including the United States, Tunisia, Saudi Arabia, and Egypt.

GlobalCorp has extended EGP13 billion ($715 million) in credit to over 800 leasing and factoring contracts spanning more than 30 industries since its inception, with more than 25 percent of its portfolio serving SMEs and green financing.

In addition, the company organized Egypt’s first and largest factoring syndication and plans to complete its first securitization by the end of 2021.

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