40384
GLOBAL TRONICS FOR ELECTRONICS S.A.E
Nov 16, 2019
Egypt, Arab Republic of
Africa
Dec 18, 2019
B - Limited
Active
Sep 30, 2022
Regional Industry - MAS Africa
Manufacturing
Approved : Dec 18, 2019
Signed : Jun 5, 2020
Invested : Oct 14, 2020
other
Founded in 1998, Globaltronics for Electronics SAE ('Gtronics' or the 'Company' - http://www.gtronics.com/), a leading fully integrated Egyptian manufacturer of electricity management solutions, specializes in the development and manufacture of power meters including smart digital meters, prepaid meters and provides smart grid solutions in addition to Meter Management Systems (MMS).
IFC is considering a USD10m preferred equity investment in Globaltronics. The proposed investment will be used to (i) finance increased working capital for the greater expected sales and inventory of the Government of Egypt's mechanical meter replacement cycle; (ii) finance Globaltronics' overseas expansion plans, including in the Kingdom of Saudi Arabia (“KSA”) and Eastern Europe; and (iii) finance additional R&D and enhance the tendering department to be able to effectively compete in several African and Middle Eastern countries and meet their technical requirements, in addition to developing new products (the “Project”).
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Local Access of Project Documentation
The Company will make relevant documentation available in Arabic and/or English in its offices in Giza, Egypt.