Drive Finance Signs a Syndicated Credit Facility Agreement Worth 5 Billion EGP to Support the Expansion of Its Consumer Finance and Factoring Portfolios

In a new strategic move that reflects its leadership in auto financing in the Egyptian market and strengthens its financial position, Drive Finance, a subsidiary of GB Capital, announced the signing of a syndicated credit facility worth 5 billion Egyptian pounds. The facility forms part of the company’s strategy to diversify its funding sources and support its future expansion plans. This agreement represents the first syndicated loan ever granted to a company in the non-banking financial sector in Egypt, reinforcing Drive’s position as one of the most prominent players in the industry and strengthening its leadership in the market.
The new facility is dedicated to supporting the company’s auto financing activities within both its consumer finance and factoring portfolios. It is expected to significantly enhance Drive’s ability to expand its customer base, increase its geographic reach, and introduce innovative financial programs that address the evolving needs of the Egyptian market.
Ahmed Ossama, Executive Managing Director of Drive Finance, stated that signing this syndicated loan agreement worth 5 billion EGP is a strategic milestone that reflects the company’s strength and the confidence the banking sector places in its performance and its ability to sustain growth. He emphasized that being the first company in the non-banking financial sector to obtain such a loan underscores Drive’s leadership and the high quality of its financing portfolio, noting that the company maintains one of the lowest default rates in the Egyptian market. He added that this facility represents a significant leap forward in the company’s ability to offer innovative financing solutions that meet customer expectations and support its ambitious plans for expansion in the Egyptian automotive market. The syndicated loan will also enhance the company’s flexibility in managing its financing portfolio and open new opportunities for growth by increasing the volume of financing directed to the auto sector.
The agreement was arranged with the participation of the National Bank of Egypt as Initial Mandated Lead Arranger, Facility Agent, Security Agent, and Documentary Agent; the Commercial International Bank – Egypt (CIB) as Initial Mandated Lead Arranger and Structuring Bank; and the Arab African International Bank as Initial Mandated Lead Arranger and Account Bank. Banque du Caire also participated as Lead Arranger, alongside Emirates NBD and the Housing & Development Bank as Syndicate Lenders. Legal counsel for the lenders was provided by Matouk Bassiouny & Hennawy, while Ashraf Ehab Law Firm served as legal advisor to Drive.