Dubai: Renaissance Capital, an investment bank, has opened its office in Cairo.
“We have taken a decision to establish the firm’s presence in Cairo. I am delighted to confirm that the Renaissance Capital office is due to open there this year, pending all relevant regulatory and other authorities’ approval — in line with our MENA and Pan-Africa expansion strategy. We expect to complete the process within the next few months,” Ahmed Badr, CEO, MENA, Renaissance Capital, said in a statement.
Renaissance Capital, the second largest foreign broker in Egypt in terms of turnover in 2016, forecasts the country’s growth to be 3 per cent this fiscal year and to double to 6 per cent in the next three fiscal years starting in 2017/2018, which is above IMF expectations and providing ample opportunities for investment.
