The Clap
Several businessmen & industry leaders shared their thoughts on the local macroenvironment at Al Mal Newspaper’s “Portfolio Egypt” conference. Here are some of the highlights:
EGX Chairman, Dr. Mohamed Farid said that efforts to increase market liquidity on the EGX continue to be strong, as talks with insurance & pension funds continue to be held.
Misr Insurance Holding Chairman, Basel El Hini stressed that significant returns on investments do not happen daily, but could take 3-10 years to transpire. He also mentioned that several EGX stocks are trading at extremely cheap prices, & that we need to start seeing real progress in stimulating EGX IPOs.
Head of Investment & Strategic Planning at E-Finance, Mahmoud Hosni said the company plans to invest in sectors in which there is need for in the local market. He also added that the company favors acquiring existing companies rather than establish its own.
Green Valley Investment Chairman, Sherif Hamouda stressed that it’s time for the private sector to do its part in injecting direct investment, as the public sector is unlikely to maintain the level of investment of the last few years.
Chief Investment Officer of Egypt’s sovereign wealth fund, Abdalla ElEbiary, said the fund is currently presenting some of its portfolio companies’ plans to investors ahead of listing them on the EGX. He added that while it’s too early to discuss the size of the offerings, Safi Waters & Wataniya Petroleum are expected to list before year’s end.
