Egypt is More Stable than Previous Year, Thanks to Gulfs’ Aids :El Khazendar

Hisham El- Khazendar, Co-Founder and CEO of Citadel Capital, asserted that Citadel is seeking to pump long-term investments and it is also trying to pump more investments in many regions, including North-Africa, mentioning the allocation of $3.7billion for the project which will be established in Energy fields.

El- Khazendar explained in a keynote speech at Euromoney’s 19th Annual Conference Cairo on Monday that the Egyptian market will still dominating more than 50% of the company’s investments, as Citadel is trying to boost its capital from $4billion to $8billion through offering more shares.

He said Egypt will pass with interim phase during the next five years due to the accumulation of infrastructure and tax problems in both the public and private sectors, noting that the only difference in this period is the present of interim-government.

He noted that the current condition in Egypt is more stable than the previous year, due to the aids provided by Gulf States in order to resolve energy problems.

He emphasized that the government has to raise growth rates and to pump much more investments through expansion policy.