Egypt’s non-bank financial services sector is entering a new phase of consolidation, technology adoption, and renewed credit appetite. We spoke with Hatem Samir, founder and CEO of GlobalCorp, on the sidelines of the EnterpriseAM Egypt Forum to discuss the firm’s expansion plans, where he sees the strongest asset opportunities, how he’s budgeting for FY 2026, and why he remains fundamentally optimistic about the outlook for Egypt’s credit market.

EnterpriseAM: So, what’s new with your GlobalCorp?

Hatem Samir: We’ve just marked our 10-year anniversary a few months ago. We’ve grown into one of Egypt’s largest NBFI platforms, spanning leasing, factoring, consumer finance, and mortgage. We’ve been doing very well over the past decade, and we’re now doubling down on technology to enhance customer engagement, efficiency, and access.

E: If you were to start over and build a new business in a different sector today, what would it be?

HS: Definitely fintech infrastructure. There’s a major gap — and strong demand — when it comes to unlocking financial inclusion in Egypt. This requires building rails that connect customers with capital providers, enabled by AI and data-driven decision-making. That’s where long-term value will be created.

E: On a personal level, which asset class do you prefer to invest in at the moment?

HS: Real estate assets, all day. Real estate appreciates while loan values amortize with payments. This creates a natural way to mitigate risk and enhance risk-adjusted returns for any NBFI.

E: How about gold?

HS: I’m not a big player in gold. I know it preserves value and hedges against inflation, but at the end of the day, we’re lenders, we deal in money and asset-backed funding. Real estate remains a very safe haven for us.

E: What exchange rate are you penciling in for your 2026 budget?

HS: We’re penciling in EGP 55–57 per USD for 2026. We’re also running multiple scenarios to test balance-sheet resilience. The exchange rate isn’t the only major driver — interest rates and liquidity conditions will also shape demand and risk appetite.

E: How do you plan to finance growth in 2026? Where do interest rates need to be for bank debt to remain part of the mix?

HS: A large NBFI platform can’t rely on a single funding source. Debt remains the primary pillar — whether from local banks or international DFIs — but we also need to be creative with alternative structures. If policy rates normalize over the next three years to the mid-10s, bank funding will become more supportive of growth. Securitization remains an efficient tool for offloading and recycling bank debt, while DFIs continue to provide long-term capital and strategic support.

E: Has AI impacted your hiring plans?

HS: Definitely. It hasn’t reduced headcount, but it has reshaped the skill sets we look for. Over the past three years, we’ve updated job descriptions and scorecards across the organization to integrate AI knowledge and expand our pool of data scientists, modelers, and other analytics-driven roles.

E: Are you optimistic, pessimistic, or neutral about the outlook for your industry next year?

HS: Fundamentally optimistic. If the currency situation and ongoing reforms continue on the right path, there’s significant room to grow. Egypt’s credit market still has very low penetration compared to regional benchmarks, which means the upside is substantial.

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