Dawar secures debt facilities from GlobalCorp, Tawassou and CIB for recycling traceability

Dawar has secured debt financing from three Egyptian institutions, Launchbase Africa reported on 3 June. The lenders are GlobalCorp, a non-banking financial services provider, Tawassou, a trade and supply chain finance company, and Commercial International Bank (CIB). The exact amount was not disclosed, though the report describes nine-figure facilities in Egyptian pounds.

What Dawar does

Dawar Circular Solutions runs a digital platform that tracks and verifies recyclable material flows across collection points, terminals and traders. It creates traceable records of where material came from, how it was processed and what it was made into. Amr Fathi, Mustafa Khairat and Hussein Barda founded the company in 2017.

Reach and use of funds

Dawar operates across 22 governorates in Egypt and has documented more than 90,000 tonnes of materials to date. It is evaluating expansion abroad. The facilities will finance the trade of recyclable materials moving through Dawar's network.

At a glance

• Company: Dawar (Dawar Circular Solutions)
• Raised: Not disclosed
• Round: Debt facilities
• Lenders: GlobalCorp, Tawassou, Commercial International Bank
• Founded: 2017
• Markets: Egypt, 22 governorates
• Key figure: More than 90,000 tonnes documented