Given the size of its population and the sophistication of its financial services sectors, the growth of Egypt’s insurance industry remains modest. The country’s insurance penetration rate – the gross value of its insurance premiums as a percentage of GDP – was only 0.73% in 2012, according to Swiss Re’s report “World Insurance in 2012.”
After the downturn it suffered in the wake of Egypt’s 2011 revolution, the Egyptian Exchange (EGX) has staged an impressive recovery. Beginning in 2012, a run of positive growth extended into 2014 and the year saw the main index finally overtake the high point reached prior to the economic crisis. Having dealt effectively with the fallout from the broader economic...
THE COMPANY: Crédit Agricole Egypt is 60.5% owned by the Crédit Agricole Group, which has operations in 70 countries in Europe, the Americas, Asia and Africa. In September 2006, Egyptian American Bank merged its operations with Calyon Bank Egypt to become Crédit Agricole Egypt. As of December 2013, the bank had a 1.9% deposit market...
THE COMPANY: Egyptian Financial Group was established in 1984 as a consulting boutique that 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, mainly to smooth income fluctuations through an integrated banking model. The firm sold its stake in...
THE COMPANY: Egypt Kuwait Holding (EKH) is one of the largest and fastest-growing direct investment companies in the Middle East, with total assets exceeding $2.1bn as of December 2013. The company is a handson, long-term investor seeking majority stakes and management control and has a strong record of successfully developing and...
Economic uncertainties typically work against new listing activity, as the diminishment of Egypt’s initial public offering (IPO) stream over recent years clearly demonstrates. The global economic crisis had already had a negative effect on markets throughout the region, prompting global investors to retrench and domestic investors to sit on capital – and Egypt was no...
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