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Drive, Ghabbour Auto’s (GB Auto) consumer finance and factoring subsidiary, has completed its second securitised bond offering, amounting to EGP 892m.
The entity will work in cooperation with saib Bank, with an announcement regarding the new services expected to be made this week. As previously announced, GB Auto aims to integrate Rseedy within its current NBFS platform, as the company recently also obtained licences for nano-finance, micro-finance, and consumer finance services
These activities will run beside the company’s auto loans segment, to widen and deepen GB Auto’s exposure to various market segments.
We launched cars without airbags to meet all customers’ needs, says GB Auto
Regarding the near-term financial impacts, Naeem Research expects the new agreement will contribute an incremental EGP 200m in revenues to Egypt’s tyre segment, but with higher margins as it is a premium product.
Higer and GB Polo expected to drive localisation of electric, diesel, and CNG bus production
Acquisition completes two companies’ full suite of NBFI services, including leasing, microfinance, Fintech, and digital payments
In a statement on its consolidated financial statements sent to the Egyptian Exchange (EGX), the company said that its sales in H1 of 2020. It added that this reflects a decrease of 14.1% to EGP 9.9bn compared to the EGP 11.5bn recorded last year.
Company’s March market share declines to 17.2%, passenger car sales rose 16.5% y-o-y, but decline 10.4%
Company freezes all planned capital expenditures for 2020
Financing business bottom line hits all-time high
Management decides to continue operations until mid-2020
Under agreement, which is subject to regulatory approval, EFG Hermes Finance and GB Capital will each own 37.5% of the company.
Consumer is key in digital transformation process; most important preparations are raising awareness and e-signature: Valavanis
GB Auto revenues fell 6.3% y-o-y to EGP 5.65bn in 2Q19, with EGP 8.9m net losses
Production capacity of factory reaches 50,000 units per year
Hyundai, through its dealership Ghabbour Auto (GB Auto), has launched a special opportunity for anyone wanting to test drive a Hyundai sedan to enter a big draw to win the grand prize: a trip to Russia to watch a World Cup match and visit Moscow and enjoy its most famous tourist attractions, such as the …
The company likely to suffer slower recovery in passenger car business segment
The company considers all investment opportunities, says Raouf Ghabbour
Fluctuations in exchange rates have pushed tyre manufacturers to monitor situation before concluding partnership to establish the factory
GB Auto owns the dealerships of Hyundai, Mazda, Geely, Chery, and Karry
Banks allocated just 5% of foreign exchange for company’s needs during Q2, says managing director
GB Auto topped the list of bestselling Chinese cars in the Egyptian market with 97.3% of the total Chinese-manufactured auto market. The competition over the market share was between Geely and Chery. The two brands, Geely and Chery, made sales of 4,875 units over the first half (H1) of 2016, out of a total of …
Geely decided to raise the price of Emgrand by EGP 9,000, and Pandino and Pandino X by EGP 3,000 each. Chery, and its agent in Egypt GB Auto, raised the price of Envy by EGP 7,000 and Tiggo by EGP 9,000. Brilliance and MG kept their prices unchanged from May through June. A previous tour …
The company relocated its Iraqi team to Cairo to reduce fixed expenses until conditions in the Iraqi market improve
Beltone’s research added that the firm has succeeded in building banking relationships which help it to obtain its foreign currency exchange requirements to import cars collected abroad or automotive components
The company announced in 2013 that it would enter the Algerian market by signing an alliance with the Algerian group, Rahmouni. At the time, GB Auto said it targets a market share of 4-5%
The company has made progress in building stock to help overcome challenges related to stalled import procedures
Hyundai launches Elantra HD locally manufactured for the first time
GB Auto’s new investments are suspended due to the dollar shortage, CEO of GB Auto Raouf Ghabbour said Tuesday at the Egypt Automotive summit. He told Daily News Egypt they have been communicating with Indian Bajaj Auto, the technical partner for the group in the motorcycle factory, regarding the local component ratio. Those plans however …