Drive Finance Secures 2.4B in Ambitious Securitisation Drive

Drive for Finance has wrapped up its sixth securitisation issuance, landing a sizeable 2.4 billion Egyptian pounds. The company, which sits under GB Capital – the financial arm of GB Corp – described this latest move as the first slice of a much larger 25‑billion‑pound programme supported by its sister firm, Capital for Securitisation. Quite a way to kick things off, really.

What caught my eye, and probably many others’, was the appetite from investors. According to statements shared from the company, interest came in at more than double the issuance size. Ahmed Osama, Drive’s Executive Managing Director, pointed out that this level of demand signals strong confidence in the company’s financial standing and its ability to keep its credit portfolio in good shape despite what has been, frankly, a bit of a turbulent economic climate. I reckon that kind of demand doesn’t happen by accident.

Raymon Gaber, who heads the finance sector at Drive, also highlighted how diversifying funding sources has helped the company widen its reach. He said this flexibility allowed Drive to expand its consumer finance and factoring services and spread its geographical footprint, which in turn boosted its market share. And believe it or not, I remember chatting with a small Cairo‑based founder last year who told me how these financing options felt like “oxygen” when cash flow got tight. It’s moments like that which remind me why, at Arageek, we keep an eye on stories that show how the ecosystem is quietly shifting.

The issuance itself came in three tranches. The first was worth 844 million pounds, set over 12 months and rated P1(sf). The second reached 1.281 billion pounds with a 36‑month tenor and carried an AA(sf) rating. The third tranche totalled 314 million pounds, stretching over 57 months and receiving an A(sf) rating. All ratings were assigned by MERIS, the regional credit rating agency. Spot on diversification if you ask me, even if managing all those tranches must be a bit of a faff internally.

Several heavyweight institutions were involved behind the scenes. CIB and the Arab African International Bank acted as financial advisers, managers, arrangers, and promoters. AAIB also took on the roles of custodian and subscription receiver. Coverage guarantees came from CIB, AAIB, and Al Baraka Bank. El‑Dreny Law Firm served as the legal adviser, while Baker Tilly handled auditing duties. It's a long list, but these deals often are… well, I mean, coordination doesn’t exactly happen by magic.

For those not familiar with the company, Drive for Finance has become a notable player in consumer finance and factoring for both individuals and businesses in Egypt. It was founded in 2012, initially focusing on factoring and providing credit solutions. Over the years, it has carved out a solid position, especially in auto financing, growing its market share and competing strongly in a crowded sector. No wonder they’re chuffed to bits with this latest milestone — even if they didn’t say it quite that way.

And just to say, as someone who’s spent a fair amount of time speaking with founders and operators across the region, moves like this feel like an important sign of how Egypt’s non‑banking financial sector keeps evolving. Sometimes it’s easy to miss the forest for the trees, but this one is definately worth noting.

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