Mubasher TV
Contact Us Advertising   العربية

EFG-Hermes seeks to boost foothold in Sub-Saharan Africa

EFG-Hermes seeks to boost foothold in Sub-Saharan Africa
Karim Awad CEO of EFG Hermes
EFG Holding
HRHO
-2.49% 17.65 -0.45

By: Amr Adel

Dubai – Mubasher:Karim Awad CEO of EFG Hermes , said the group will focus its activities at four major markets through 2015 namely ;Egypt ,Saudi Arabia , UAE and Kuwait.

The leading investment bank in MENA operates within 12 markets at the MENA region, sorted between direct and indirect investments.

Awad stated, on the sidelines of an EFG Hermes-organized press conference in Dubai late Sunday that the group will work on expanding its operations at Saudi Arabia, following the Saudi authority’s announcement of opening its stock market to foreign investment.

In the middle of 2014, Saudi Arabia said it will open up its stock market to international investors in the first half of 2015, giving foreigners greater access to the Arab world’s biggest bourse as the oil-rich kingdom seeks to diversify its economy.

EFG also wants to expand its operations, which include brokerage, asset management and advisory services, in the Gulf region and consolidate its leading position in its home market.

This includes listing companies on the Egyptian bourse, where it is currently advising Orascom Construction on its spin-off and dual-listing in Egypt and Dubai and Emaar Misr, the Egyptian arm of Dubai developer Emaar Properties.

Awad mentioned that EFG seeks to penetrates the Kuwaiti stock market in 2015.EFG succeeded in raising its market share significantly there in respect to brokerage activities , noted Awad .

Meanwhile, the group is interested in Sub-Saharan Africa and works currently on preparing the required feasibility studies to evaluate the available promising investment opportunities there, stated Awad.