Cairo – Mubasher: The Egyptian Financial Group Hermes Holding (EFG Hermes) announced that it acted as the sole financial advisor for Pakistan’s United Bank Limited (UBL) in selling its unit in Tanzania to Exim Bank.

Exim Bank Tanzania recently acquired UBL Tanzania (UBLT) in a deal that represented the first activity for EFG Hermes in East Africa, since it expanded in Kenya back in 2017.

Successfully completing the transaction reflects the Egyptian investment bank’s ability to carry out transactions on a global scale in various legal and regulatory environments across many markets, where Hermes is expanding, said Ali Khalpey, CEO of Frontier Markets at EFG Hermes.

Khalpey further noted Hermes’s leading position in expanding emerging markets and its presence in 13 countries across four continents.