For more than 60 years, GB Auto has thrived under the leadership of one of Egypt’s visionary business families. In that time, the company has developed from a family enterprise to one of Egypt’s top public corporations with operations region-wide.
In the 1940s, Sadek and Kamal Ghabbour began a family-run trading business. The brothers’ firm, which was soon incorporated as Ghabbour Brothers, had interests across a number of business lines, including automotive related products, construction materials, home appliances and electronics.
Egypt’s open-door policy during the 1970s presented an opportunity to bring international expertise to the Egyptian automotive market, and Ghabbour Brothers started securing licenses from the world’s premier suppliers. The business grew rapidly throughout the 1980s and 1990s.
Today, GB Auto is the leading diversified automotive company in North Africa and the Middle East and since 2007 has had a listing on the Egyptian Exchange (EGX).
GB Auto’s c.LE 960 million capital increase was 99.86% covered
GB Auto supplies public transport authority in Alexandria with 150 buses
GB Auto joins forces with Cisco to drive information technology and ICT education in Egypt
GB Auto acquires distribution rights for Goodyear tires in Algeria
GB Auto enters into an exclusive strategic alliance to distribute Gazprom Neft-Lubricants
GB Auto begins operations at Pre-Owned Vehicles division
GB Auto receives Best Distributor Award from Geely; Honored by Hyundai for excellent after-sales service
GB Auto obtains approval on a c.LE 960 million capital increase
Early in 2013, the company announced that efforts to expand its geographical footprint had come to fruition, with key brand representations in Algeria and Libya.
GB Auto signed a contract with General Motors East Africa to export more than 200 buses in 2H13
The GB Academy was completed and instruction begun at the purpose-built campus in Abu Rawash.
GB Auto signed an agreement with Chery to distribute a micro-microbus product.
GB Auto won Geely International Corporation’s ‘2012 Best New Distribution’ Award.
GB Auto engineer won the gold medal in the Engine System Support category at Hyundai Motor Corporation’s (HMC) World Skill Olympic Competition.
GB Auto acquired the exclusive right to distribute Goodyear tires in Algeria and is open to expanding this representation to other high-potential markets in North and Sub-Saharan Africa.
GB Auto announces a strategic partnership with Geely Automobile Holding Ltd of China that will see GB Auto engage in CKD assembly in Egypt and distribution in the MENA region, beginning with the Egyptian market.
GB Auto signs a contract with Iveco Irisbus, a Fiat Industrial company and global industry leader, to be the exclusive distributor of Iveco bus chassis in Egypt.
GB Auto launches operations at two new after-sales facilities in Egypt, one in Assiut and one on the Cairo-Ismaliyya Desert Road.
Drive, GB Auto’s consumer finance venture, begins operations, financing consumer purchases of passenger cars.
GB Auto acquires the exclusive right to distribute internationally-recognized ZC Rubber’s Westlake passenger car, van, TBR and OTR tires in the Egyptian market.
GB Auto inaugurates the newly revamped state-of-the-art Prima plant, which now features latest-generation quality-control systems, fully automated conveyer transits and the first fully robotic paint shop in the region.
GB Auto submits its first communication of progress for the UN Global Compact
GB Auto completes construction of its new paint facilities in the Greater Cairo Area, more than doubling capacity.
GB Auto soft-launches the GB Academy, which will focus on improving employees’ soft skills, including communication strategies, critical and creative thinking, time management, business ethics, and more.
GB Auto opens its first after-sales facility in Iraq, with 70 working bays in Baghdad.
GB Auto places in the top 50 companies on the Hawakamah Institute for Corporate Governance’s S&P Hawkamah Environment, Social, and Corporate Governance (ESG) Pan Arab Index.
GB Auto enters into an exclusive agreement to import and distribute Mazda-branded vehicles in Egypt.
GB Auto enters a joint venture that will see the company distribute Hyundai vehicles in Iraq through a joint venture with the Al-Kasid group of companies, which holds the exclusive rights to distribute Hyundai products in Iraq.
GB Auto signs an agreement to be the exclusive distributor of Yokohama passenger car, semi-truck, truck, bus and construction equipment tires in Egypt.
GB Auto’s LE 1 billion bond issue is well received by the market (1.3x over-subscribed). Proceeds from the bond issue will be directed towards business expansions that will themselves become income generative.
GB Auto opens a new after-sales service center in Hurghada with 22 working bays.
GB Auto initiates a company-wide human resources development program.
GB Auto establishes a joint-venture trailer distributorship in Algeria.
GB Auto launches a Global Depositary Receipt (GDR) program without a capital increase in May 2009 that allows global investors to trade its shares in London and New York.
GB Auto begins its participation in the government-sponsored taxi replacement program, which prohibits passenger cars more than 20 years old from being used as taxis.
GB Auto establishes Mashroey, a majority-owned micropayments joint venture to finance purchases of Bajaj-branded motorcycles and three-wheelers.
GB Auto enters a joint venture with Marcopolo, the Brazil-based global bus manufacturer, to build a state-of-the-art production facility in Suez where the JV produces buses for domestic and export sales.
GB Auto acquires a financial leasing company to operate as GB Lease, which will finance commercial vehicle sales as well as corporate clients purchasing passenger cars for fleets.
GB Auto completes an initial public offering and shares begin trading on the Cairo and Alexandria Stock Exchange (now the Egyptian Exchange). The IPO raised EGP 1.2 billion.
Ghabbour Brothers begins operations as the exclusive local distributor of Mitsubishi and Volvo trucks and buses.
Ghabbour Brothers begins operations as the exclusive local distributor of Bajaj motorcycles.
Ghabbour Brothers is granted a technical license to assemble CKDs for Hyundai’s passenger cars in Egypt. The move further solidifies the company’s strategic relationship with Hyundai.
Ghabbour Brothers is appointed as exclusive distributor of Hyundai passenger cars in Egypt. The move marked Hyundai’s definitive move into the Egyptian passenger car market and the brand immediately captured market share with its wide-ranging, competitively priced portfolio.
Ghabbour Brothers establish assembly operations to manufacture bus bodies under a technical agreement with Scania AB.
Egypt’s open door policy directs Ghabbour Brother’s business focus to the automotive industry. The brothers secure licenses to market passenger cars, bus and automotive parts.
The Ghabbour Brothers officially incorporate. The business trades in automotive related products, home appliances, and construction materials such as cement and ceramics.
Sadek and Kamal Ghabbour establish a family-run business.