It has been an interesting year for the Egyptian Exchange (EGX). In 2015 the main board featured the highest number of listed companies since 2010, while products such as the nation’s first exchange-traded fund (ETF) provided a deeper market and new investment options. After years of crisis management in the wake of the 2011 revolution, the exchange authorities have re-established an outward-...
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Chapter | Capital Markets from The Report: Egypt 2016
Benefitting from the nation’s increasing economic stability over the past year, Egypt’s banks have enjoyed both ratings upgrades and continued profitability. Thanks to an ambitious government development strategy and new investment legislation, the project finance pipeline is returning to form after a period of muted activity. Elsewhere on the aggregate loan book, competition is heating up to...
Located at a crossroads between Africa, Asia and Europe, Egypt remains one of the world’s most strategically important countries, as it has been for millennia. Egypt has the third-largest GDP in the Arab world, after oil-rich Saudi Arabia and the UAE. It is considerably more diversified than many economies in the region, with manufacturing and agriculture key contributors, making up 14.5% and 15.7% of GDP, respectively, according to the Central Bank of Egypt, as well as oil and gas extraction.
Articles & Analysis | Consolidation likely for Kenya's banking market from The Report: Kenya 2016
Compared to other African countries, Kenya has a crowded banking sector. In June 2015, in a country of 43m people, there were 43 commercial banks. The top 10 banks take 70% of the market. There are also 12 microfinance banks, eight representative offices of foreign banks, 86 foreign-exchange bureaus, 14 money-remittance providers, three credit...
Articles & Analysis | Kenyan banks competing for mobile banking customers from The Report: Kenya 2016
Nowhere is the ability of Kenyans to turn technology to commercial use better illustrated than in mobile banking. They use their phones to pay for goods and bills, make deposits and withdraw cash from agents, buy insurance, for public transport and to transfer to relatives. According to the Central Bank of Kenya (CBK), the value of...
Articles & Analysis | Growth opportunities for Kenya's banking sector from The Report: Kenya 2016
With more banks per head than other major African markets, Kenya is a world leader in mobile money technology. Opportunities beckon across East Africa and beyond, and capital can be raised swiftly to meet evolving regulatory requirements. Foreign banks still face stiff competition from home-grown contenders, but the scope for future growth...