Cairo-based investment bank SOLID Capital, part of Dutch venture capital firm Solid Capital Partners Worldwide Group, plans to acquire one of the brokerage firms operating in the country before the end of the current year.
SOLID Capital is also in advanced talks to assess two local firms, in a bid to expand its brokerage activities and capture more investment opportunities after the Egyptian currency float move, chief executive Mohamed Reda told Amwal Al Ghad on Monday.
Brokerage industry in Egypt will see significant growth rates in the coming period, Reda said, citing the diversification of the current available investment opportunities in the country compared to other financial market in the region.
SOLID Capital is a member of Netherlands’ Solid Capital Partners Worldwide Group.
SOLID Capital is a full-fledged investment bank, duly incorporated and existing under the Egyptian laws according to law No. 95 of 1992 as an Egyptian joint stock entity. SOLID Capital was founded as a strategic alliance between Solid Capital Partners, Younnic Capital Partners (Netherlands, Switzerland, Belgium, UAE, and India), Egypt Investment Company, and a group of senior leaders of investment banking.