Egypt: A compelling investment story, despite Emerging Markets’ headwinds
CI Capital, Egypt’s leading diversified financial services group, kicked off today its 5th Annual Egypt Equities Conference in Cape Town, South Africa. Over the coming two days, the conference will host Egypt’s top 22 listed corporates to meet face-to-face with global buy-side asset managers, with mandates to invest in African and Middle Eastern equities, controlling over USD1tn of assets under management.
This year’s conference tackles Egypt’s compelling investment story, despite current headwinds to EMs amid a rising USD and global tightening conditions. The Egyptian government continues to deliver on its fiscal and monetary reforms, as well as pushing on its IPO plan and secondary offering pipeline of state-owned enterprises. The programme includes 23 public companies, with the first phase involving the sale of 20-30% stakes in 5 listed companies in 2H18.
Another key macro factor is the continuation of the monetary easing cycle by Q418, a precursor for the pick-up in investment and consumption activities, and earnings momentum for the corporates over the medium-term. This backdrop should bode well for Egypt and help attract investments in a time where global investors are looking for unique opportunities across Emerging Markets.
Karim Khadr, Managing Director and Head of Brokerage at CI Capital, highlighted, “The government’s reform agenda, its IPO and secondary stake sales pipeline, along with the success growth stories of a wide range of companies in various sectors, position Egypt as one of the key investment opportunities in the region.”
Khadr added, “CI Capital’s team continues to create different channels and platforms for global investors to remain well informed about Egypt’s compelling investment story, as well as companies that offer good stories and growth prospects.”
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