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EFG Hermes Egypt Day Summit Brings Global Investors to Explore Investment Opportunities - African Eye Report | African Eye Report
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EFG Hermes Egypt Day Summit Brings Global Investors to Explore Investment Opportunities

Cairo, Egypt, December 11, 2018//— EFG Hermes, a leading financial services corporation in frontier emerging markets (FEM), announced today the kickoff of its third Egypt Day Summit in Cairo.

The three-day event will see 27 investors from 22 companies and financial institutions representing USD 5.5 trillion in assets under management (AUMs) meet with a cohort of top government officials and CEOs from Egypt’s top listed companies to discuss the stability and steady growth of Egypt’s economy following recent reform efforts.

“EFG Hermes is committed to supporting efforts to attract foreign capital to Egypt as we continue to play our role as the bridge between foreign capital and investment opportunities in Egypt and frontier emerging markets.

The impressive turnout at the Egypt Day Summit from global investors, Egyptian companies and government representatives is a reflection of Egypt’s position as a key regional market that offers compelling opportunities to the global investment community,” said EFG Hermes Group Chief Executive Officer Karim Awad.

“The consistent success of this gathering is a testament to the positive outlook on the local market and the global perception of Egypt as a growing economy in a region that is in constant flux.”

With the country’s strong fundamentals and an increasingly positive economic outlook, there is growing interest from the international business community to pursue growth opportunities in Egypt, which boasts the largest consumer market in the MENA region, among other favorable demographic and economic characteristics.

The last iteration of the conference in January 2018 saw representatives from 27 global institutions from the US, UK, Germany, South Africa and the GCC meeting directly with c-suite executives from top-listed Egyptian companies.

The conference played a key role as a catalyst to reinvigorating the performance of the Egyptian exchange between February and May 2018.

 “During 2018, the Egyptian market witnessed a number of shifts. As the CBE pushes for greater financial inclusion to spur growth in smaller businesses, the fiscal deficit narrows, and the reform agenda continues to bear fruit, investors will be zooming in on how the wider downturn in emerging markets will impact Egypt’s future outlook.

And with Egyptian equity prices presenting an attractive entry point right now, the conference could not have come at a more opportune time,” said Mohamed Ebeid, Co-Chief Executive Officer of the investment bank at EFG Hermes.

 “The Egyptian government has it made it clear that it is holding the line on the sale of state-owned companies via IPOs and accelerated book builds, meaning the Egypt Day Summit is poised to play a key role in laying the groundwork to maximize foreign equity and fixed income flows into the country.

We continue to work to prop up the EGX in light of the instability in capital markets globally by bringing in financial institutions from across the globe to encounter local untapped opportunities first hand,” he added.

 Ebeid went on to add that “a major part of why Egypt’s economic recovery has been so impressive is that the government has diligently worked to address core areas of concern within the economy and is taking active steps to make Egypt an investment hub.

The attendance of key economic representatives at every Egypt Day Summit since the event’s inception is just one example of the government’s hands-on approach.”

African Eye Report

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