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Egyptian capital markets to deliver positive returns in 2018

Anna Lyudvig
Jan. 16, 2018, 3:49 p.m.
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Policy stability and a welcoming investment climate are key drivers for continued growth and investments in Egypt, according to Mohamed Ebeid, Co-Chief Executive Officer of the investment bank at EFG Hermes.

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Policy stability and a welcoming investment climate are key drivers for continued growth and investments in Egypt, according to Mohamed Ebeid, Co-Chief Executive Officer of the investment bank at EFG Hermes.

“The Egyptian government has worked diligently to foster this environment and demonstrate its unwavering commitment to continue pressing ahead with the reform program. This push, combined with our longstanding role of acting as the bridge between global capital and local opportunities will facilitate the conference’s potential to drive further investments in Egypt’s capital markets,” he said.
 
During 2017, local equities in the Egyptian market had attracted some $375m in foreign cash in-flows, while treasury-bills garnered global interest in the tune of $18.3bn, underscoring Egypt’s increasing attractiveness.

“We expect that 2018 will favour the same trajectory and that capital markets will continue delivering positive returns, with total market cap now at pre-float levels in excess of $50bn,” Ebeid said.

Rising investor confidence and an increasing appetite for investment opportunities in Egypt have been a recurring theme since the initiation of the government’s economic reform program, said EFG Hermes Group CEO Karim Awad. 

“His Excellency the President, and top government officials’ interest to directly meet with investors reflects that we are heading into 2018 with a positive outlook and a hands-on government bent on delivering positive results,” said Awad.

Three days of direct meetings between the international investment community and top government officials – led by His Excellency President Abdel Fattah El Sisi, acting Prime Minister, the Governor of the Central Bank of Egypt and the economic group ministers – kicked off today at the second annual running of the Egypt Day Conference organized by EFG Hermes. 

 EFG Hermes’ second annual Egypt Conference will be attended by 39 investors from world-renowned financial institutions with assets under management (AUMs) exceeding $10trn, an increase over last year’s conference which was attended by 27 institutions and investors from the United States, the United Kingdom, France, Germany, South Africa and the GCC with aggregate AUMs of $3.5bn.

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