Egypt's EFG Hermes looks to tap into fast-growing Sub-Saharan Africa

The main offices of EFG Hermes in Cairo. Credit: Dana Smillie for The National

EFG Hermes, Egypt’s biggest listed investment bank, is considering an entry into Sub-Saharan Africa to tap demand for private equity and corporate advisory services, the chief executive said.

Growth in Sub-Saharan Africa is forecast to reach 5.75 per cent this year, compared with 5.1 per cent in 2014 because of infrastructure investment, a buoyant services sector and strong agricultural production, according to the IMF.

“One territory that might be on our radar screens going forward is Sub-Saharan Africa but again that is not something that is immediate,” said Karim Awad, the chief executive.

Read more: EFG Hermes looks to tap into fast-growing Sub-Saharan Africa | The National.

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