Banque du Caire Provides 100 Million EGP Funding to Kredit to Boost SME Growth in Egypt – Fintech News Egypt

October 22, 2024 — Cairo

Kredit, a leading finance company focused on small and medium enterprises (SMEs) and affiliated with the GB Capital Group, has announced the successful acquisition of 100 million EGP in funding from Banque du Caire. This new injection of capital is set to fuel the growth of SMEs in Egypt, a sector considered vital to the country’s economic development.

The funding will provide SMEs with essential financial resources, enabling them to expand their operations, increase production capacity, and create new job opportunities. The initiative is expected to significantly contribute to the improvement of living standards by enhancing business sustainability and fostering economic growth.

Ahmed Emam, Managing Director of Kredit for SME financing, highlighted the strategic importance of this funding. “This is a pivotal step in supporting the backbone of the Egyptian economy—our small and medium enterprises. At Kredit, we are committed to providing tailored financial solutions that empower our clients to reach their ambitions,” Emam stated.

He further elaborated on Kredit’s dedication to innovation, emphasizing the company’s use of cutting-edge technologies to deliver flexible and fast financial solutions. “We strive to enhance the customer experience by leveraging our technological advancements, ensuring that our clients can focus on the success of their projects,” he added.

About Kredit

Kredit, a subsidiary of GB Capital, is a specialized financing entity focused on supporting the SME sector in Egypt. With a strategic emphasis on accessibility, trust, speed, and transparency, Kredit offers a range of innovative financing solutions tailored to the unique needs of SMEs. The company holds a license from the Financial Regulatory Authority and employs a robust credit approval process to serve key market segments, including women entrepreneurs, green projects, manufacturers, and exporters.

In addition to traditional financing, Kredit is committed to fostering sustainable growth and supporting businesses poised for expansion. This aligns with the company’s broader mission to contribute to the Egyptian economy by empowering the SME sector with flexible, transparent, and accessible financial solutions.

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