EFG Hermes’ second annual Egypt Conference began yesterday hosting the international investment community for three days of meetings with top government officials – led by President Abdel Fatah al-Sisi, acting Prime Minister, Central Bank of Egypt Governor.
The conference served as a venue for showcasing investment and growth opportunities in Egypt, a growing market of interest among the international business communities in light of ongoing economic reforms and the expected merits of the Egyptian market’s performance.
The second annual Egypt Conference is attended by 39 investors from world-renowned financial institutions with a combined assets under management (AUMs) exceeding $10 trillion, 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 an aggregate AUMs of $3.5 billion.
“Rising investor confidence and an increasing appetite for investment opportunities in Egypt have been a recurring theme at our gatherings since the initiation of the government’s economic reform program,” said EFG Hermes Group Chief Executive Officer Karim Awad.
“During 2017, local equities in the Egyptian market had attracted some $375 million in foreign cash in-flows, while treasury-bills garnered global interest in the tune of $8.3 billion; underscoring Egypt’s increasing attractiveness,” said Mohamed Ebeid, Co-Chief Executive Officer of the investment bank at EFG Hermes said.
“We expect that 2018 will favor the same trajectory and that capital markets will continue delivering positive returns, with total market cap now at pre-float levels in excess of $50 billion,” Ebied added.