Effectively priced out of the international bond market, the Ministry of Finance has been compelled to turn to the domestic banking sector to meet the demands of the state budget. For local banks faced with reduced borrowing demand, the easy yield offered by a steady supply of treasury bills (T-bills) represents an attractive route to growth....
Ongoing political uncertainty, muted GDP growth and the threat of reduced business volumes that these factors carry with them has resulted in a number of ratings agencies giving Egypt’s banking sector a negative outlook. However, Egypt’s largest banks have demonstrated a high degree of resilience to date, with their bottom lines supported by the...
The Egyptian economy has provided a wealth of opportunities to private equity (PE) firms, both domestic and foreign. The heady years leading up to the 2008 global economic crisis featured a number of significant deals that raised the profile of PE and helped to establish it as an alternative source of funding for Egypt’s corporations. Particularly...
THE COMPANY: El Sewedy Electric Company is a fully integrated energy-solutions provider, manufacturing and selling integrated energy products and services in seven energy segments. The company has 30 production facilities in 14 countries. It sells its products in 110 countries and caters to the...
The uptake of takaful (Islamic insurance) is based around the concept of risk-sharing and has been growing at an exponential rate since the first provider of the product opened shop in Egypt in 2003. Plans to develop product-specific regulations as well as for the creation of other Islamic investment vehicles are likely to further boost...
THE COMPANY: Egyptian Financial Group (EFG) was established in 1984 as a consulting boutique. It merged with Hermes Financial in 1996 to form EFG-Hermes Holding. In 2007, the company acquired a stake in Bank Audi, a Lebanese commercial bank, to smooth income fluctuations by developing an integrated...
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