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Ghabbour Group

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GB Corp
جي بي كورب
Company typeS.A.E
IndustryAutomotive industry
Founded1960
FoundersKamal Ghabbour
Sadek Ghabbour
Headquarters
Cairo
,
Egypt
Area served
Egypt, Iraq, Jordan, Kenya
Key people
Nader Ghabbour (CEO)
Dina Ghabbour (CBDO)
Wissam Al Adany (CIO)
ProductsAutomobiles, Buses, Trucks and Motorcycles
E£2,742.4 million (H1 2024)[1]
Websitehttps://gb-corporation.com/

GB Corp is an Egyptian manufacturer of automobiles, buses, trucks and motorcycles located in Cairo.[2][3]

The company was founded in 1960 by the brothers Kamal and Sadek Ghabbour because they realized that the automotive sector was a growing market. In its early days the company was named Ghabbour Brothers. Formerly, the group manufactured Saviem (later RVI) vehicles. Today the Group manufactures vehicles for numerous brands such as: Bajaj Auto, Hyundai and Volvo. With an annual output of 150,000 units, the Ghabbour Group is currently the largest automobile manufacturer in Egypt, with operations in Iraq, under the names GK Auto[4] and GQ Auto,[5] and in Kenya.[6]

Model overview (Egyptian Market)

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GB is an authorized distributor for 6 international car brands, 1 Motorcycle brand, 9 Commercial Vehicle brands, 4 Tire brands, and 4 Spare Part brands in Egypt.[7]

Hyundai[8]

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Mazda[9]

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Geely (formerly)

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It only had two models in its initial lineup: The Geely Emgrand, and the Geely Imperial. The brand faced a lot of criticism at one point for endangering people's lives.[10] The campaign generated a lot of negative sentiment towards the brand.

Chery[11]

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Changan[12]

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Haval[13]

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Motorcycles and Light Vehicles

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Bajaj Auto[14]

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Commercial Vehicles

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Volvo Trucks[15]

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Fuso[16]

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MCV[17]

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IVECO Bus

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Higer Bus

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SHACMAN

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JMC

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FOTON

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Epiroc

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Tires

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GB is the official distributor for 4 tire brands:[18]

Yokohama

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Lassa Tires

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Double Coin

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West Lake Tires

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Spare Parts

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GB also has several outlets for spare parts:[19]

Bosch

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Mando

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Monroe

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Gazprom Neft

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Model Overview (Iraqi Market)

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GB Corp operates in Iraq under the names GK Auto,[20] and GQ Auto for Bajaj vehicles.[21] GB is an official dealer for MG and Bajaj in Iraq.

MG Motor[4]

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Bajaj Auto[22]

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Model Overview (Kenya)

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GB is the sole distributor in Kenya for the following brands:[23]

King Long

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Eicher Motors

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Stock Exchange Information

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GB Corp is listed on the Egyptian Exchange as GBCO.

Total Shares Listed

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1,085,500,000 [24]

Division of Shares as of Q1 2024[24]
Shares Percentage of Shares
Ghabbour Family 63,4 %
Free Float 36.6%
Division of Free Float Shares as of Q1 2024[25]
Shares Percentage of Shares
RG Investments S.A.R.L 58,92 %
MIRI Strategic Emerging Markets Fund 6.84%
Olayan Saudi Investments 5.1%
Total Shares (excl. Anonymous Shareholders) 769,112,462
Anonymous Shareholders (Shareholders with less than a 5% Ownership Stake) 29.14%

Board of Directors

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The current Board of Directors expires in March 2025.[25]

Division of the Board of Directors as of Q1 2024![25] Shares !! Title
Mr. Mohamed Naguib Non-Executive Chairman
Mr. Mounir Fakhry Abdelnour Independent Board Member
Mr. Nader Ghabbour Chief Executive Officer
Mr. Mansour Kabbani Non-Executive Director
Mr. Abbas El Sayed Executive Director
Ms. Lobna El Dessouky Independent Board Member
Ms. Marwa El Ayouti Independent Board Member

References

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  1. ^ Q2 Earnings Newsletter: https://s3.amazonaws.com/resources.inktankir.com/gb/GB-Corp-ER-2Q24-E-FINAL.pdf
  2. ^ Ghabbour Group, World News.
  3. ^ "Company Profile for GB Auto SAE". in.reuters.com. Archived from the original on 2 November 2013. Retrieved 10 August 2012.
  4. ^ a b MG Iraq's Official Website: https://www.mgiraq.com/
  5. ^ Bajaj Iraq Website: https://iraq.globalbajaj.com/
  6. ^ GB Auto Kenya: https://m.facebook.com/GBAutoinKenya/
  7. ^ GB Corp's Official Website: https://gb-corporation.com/gb-auto/#tab-lines-413
  8. ^ Hyundai Egypt website: https://hyundai-egypt.net/
  9. ^ Mazda Egypt: https://www.mazdamisr.com/
  10. ^ "هاشتاج لو ببلاش متركبهاش يحذر من شراء جيلي امجراند - سيارات". أخبارك.نت (in Arabic). Retrieved 2019-01-20.
  11. ^ Chery Egypt's website: https://www.chery-eg.com/
  12. ^ Changan Egypt: https://changan.com.eg/en/landing/
  13. ^ Haval (GWM) Egypt Official Website: https://greatwall.eg/
  14. ^ Bajaj Egypt: https://egypt.globalbajaj.com/
  15. ^ Volvo Buses Egypt: https://www.volvobuses.com/eg/
  16. ^ FUSO Egypt Facebook Page: https://www.facebook.com/FusoEgypt/
  17. ^ MCV's About Page: https://www.mcv-eg.com/about-us/#who
  18. ^ GB Corp's Website: https://gb-corporation.com/gb-auto/#tab-lines-489
  19. ^ GB Corp's Website: https://gb-corporation.com/gb-auto/#tab-lines-463
  20. ^ GK Auto Facebook: https://www.facebook.com/GKAuto/
  21. ^ GQ Auto Linkedin Page: https://www.linkedin.com/company/bajajiraq/?originalSubdomain=iq
  22. ^ Bajaj Iraq: https://iraq.globalbajaj.com/
  23. ^ GB Auto Kenya Facebook Page: https://www.facebook.com/GBAutoinKenya/
  24. ^ a b "GB Corp".
  25. ^ a b c https://s3.amazonaws.com/resources.inktankir.com/gb/1Q24-Form-30-English-1-.pdf [bare URL PDF]
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