THE COMPANY: In just over 10 years, Ezz Steel has become the largest independent steel producer in the Middle East and Africa, with a total capacity of 5.8m tpa (3.5m tpa of long products and 2.3m tpa of flat products). It is an operational and holding company with majority stakes in three subsidiaries...
Despite having the oldest stock exchange and one of the largest banking sectors in the Middle East and North Africa (MENA), Egypt has not played a significant role in the precipitous expansion of Islamic finance that has shaken up financial sectors across the region and beyond. Just three banks in the country operate in full accordance with sharia-...
Subsidies have played a significant part in the Egyptian economy since the era of President Gamal Abdel Nasser in the 1950s and 1960s – a time in which numerous Middle Eastern autocracies sought the approval of the populace through the provision of food and other essentials at below-market prices. Sardonically described as the “democracy of bread”...
What short- and medium-term challenges do you expect Egypt to face as it renews its investment potential following recent political events?
The effort to secure international funding in the wake of the 2011 uprising has become one of the more salient economic issues for Egypt over the past year. The nation first turned to the IMF in May 2011, with Samir Radwan, then-finance minister, citing the social justice demands of the people in the wake of the revolution as the primary...
The last 18 months have carried Egypt through a radical political transformation. President Hosni Mubarak, who had ruled Egypt for three decades, stepped down amid nationwide protests. Mubarak’s former ruling party, the National Democratic Party, has been dissolved, and for the first time in history, Egyptians participated in fair and free...
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