EFG Hermes hosts the fourth Egypt Day Conference

EFG Hermes, the leading financial services corporation in frontier emerging markets (FEM), kicked off its fourth Egypt Day Conference titled “Shaping the Investment Landscape” yesterday, with investors showing continued interest in Egypt’s mounting economic and investment prospects after meeting with the Cabinet’s Economic Group, led by the Prime Minister of Egypt Dr. Moustafa Madbouly. The cohort included Minister of Planning and Economic Development Dr. Hala El Said, Minister of Finance Dr. Mohamed Maait, CEO of The Sovereign Fund of Egypt Ayman Soliman, representatives from the International Monetary Fund (IMF) and representatives from the Central Bank of Egypt.

The event saw 30 investors from 21 world-renowned financial institutions with USD 15 trillion in assets under management (AUM) meet with CEOs from some of the nation’s leading companies in the banking, fintech, real estate, logistics, and e-commerce industries. This year, the conference played host to some of Egypt’s most promising emerging businesses as part of the Firm’s efforts to prop up homegrown companies and showcase rising investment opportunities to investors.

EFG Hermes Holding’s Group Chief Executive Officer Karim Awad said: “With the country’s solid fundamentals and positive economic outlook, Egypt is attracting attention as a promising investment gateway. We commend the Egyptian government for taking solid and swift action towards economic reform, which has created tangible impact on the country that was truly felt by institutional investors. Today, EFG Hermes stands as the leading investment bank franchise in FEM and Egypt’s first universal bank, putting us in a unique position to attract foreign direct investments and catalyze change to drive growth and development in our home market. The continued success of the Egypt Day Conference is proof-positive of our commitment to bridging the gap between foreign capital and compelling local investment opportunities in one of the world’s fastest-growing economies.”

The last iteration of the conference was held prior to the onset of the Covid-19 pandemic in December 2019, hosting 27 representatives from 22 global institutions from the US, UK, Germany, South Africa, and the GCC representing USD 5.5 trillion in AUM.

Mohamed Ebeid, Co-Chief Executive Officer of the Investment Bank at EFG Hermes said: “Egypt’s reform agenda has been central to the growth of the economy, laying the groundwork for stability and positive investor sentiment despite the turmoil that roiled the market following the COVID-19 pandemic. From bolstering private sector involvement in several industries, empowering financial inclusion, and — more recently — taking steps to cut taxes and fees on EGX trading and incentivizing companies to IPO, the government has worked to transform Egypt into an attractive investment hub. Today, investors will be looking at the participation of listed companies and some of the country’s most promising rising businesses together with government officials at the conference as a signal that the public and private sector will continue to work hand in hand to maximize foreign equity and fixed-income flows into the country.”