Evolve, Stonex discuss $5 billion gold expansion in Egypt

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met on Monday with delegations from Evolve Holding and its partner Stonex to discuss plans to expand investments in Egypt’s gold and precious metals sector.

The meeting included Sameh El-Targoman, CEO of Evolve Holding, and representatives from Stonex, alongside Ghada Nour, Assistant Minister for Investment Promotion and Government Offerings.

El-Khatib welcomed the delegations, noting the ministry’s support for companies seeking to invest or increase their operations in Egypt. He highlighted the rapid growth of the country’s gold market, which contributed $6 billion to exports last year.

The companies outlined plans to expand in gold trading, logistics, digital products, precious metals marketplaces, and non-banking gold-backed financial products. They said the total gold trade in Egypt could reach $5 billion, with the goal of turning the country into a regional and global hub for gold exports, leveraging its strategic location to reach international markets.

Attribution: Amwal Al Ghad English