Dubai
Arqaam Capital said on Wednesday it swill continue to build its local capabilities in Egypt to provide a bridge for capital flows into the Egyptian economy by leveraging the bank’s world class capabilities to service both Egyptian and international clients looking to do business in Egypt.
“With the brave and bold economic and structural reform program that the Government of Egypt has embarked on, we are bullish with respect to the future prospects of the Egyptian market. We are witnessing first-hand the steady improvement in the country’s key economic indicators, and we do believe that while significant challenges still remain, we see more opportunities than risks going forward,” Radi Al Helw, Managing Director, Arqaam Egypt said in a statement.
“We are excited about the developments in Egypt’s capital markets, which today represent one of the most vibrant markets for public and private investors across the Middle East and North Africa region. In spite of perceived economic and political challenges, the reality is that Egypt still represents one of the most active markets in terms new IPOs and number of M&A transactions executed, both of which reflect strong convictions by local, regional, and international financial and strategic investors in the future of the country.” Al Helw added.
“For an investment bank like Arqaam Capital with a strong commitment to growing its business in the Middle East and African markets, Egypt will continue to provide for an exceptional value proposition to recruit and build a large on — the-ground presence to not only cover the Egyptian market, but to also cover neighbouring markets in North and East Africa with Cairo serving as a natural hub.’
“Confidence and visibility on the currency regime has gone a long way in allaying investor’s fears of volatile returns on their investments. The migration to a liberalised FX regime and strong commitment by the Central Bank of Egypt to create a liquid and transparent currency market without controls and restrictions, has been the single most impactful policy move when it comes to rebuilding trust with the global investment community. ” Al Helw said.
