The Report: Egypt 2017

  • ID: 4144326
  • Country Profile
  • Region: Egypt
  • 232 Pages
  • Oxford Business Group
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A Return to Stability Has Allowed the Country to Act on a Number of Political and Economic Strategies

FEATURED COMPANIES

  • African Development Bank
  • El Rashidi El Mizan
  • Ezz Steel
  • Fawry
  • FEP Capital
  • Helmy, Hamza & Partners
  • MORE

A process of fiscal reform is well under way, a long-awaited legal framework aimed at attracting new investment is almost in place, a Mediterranean gas find promises to nearly double the nation’s gas reserves and, other than some unrest in the remote Sinai Peninsula, the country has enjoyed a period of political stability following the turbulence of 2011-2013.

However, some obstacles to growth remain in the form of a stubborn fiscal deficit and a troubled currency, the flotation of which threatens to raise the cost of living for importers and households, many of whom are currently struggling with price increases on basic items.

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FEATURED COMPANIES

  • African Development Bank
  • El Rashidi El Mizan
  • Ezz Steel
  • Fawry
  • FEP Capital
  • Helmy, Hamza & Partners
  • MORE

PROFILE

  • Making history: The country looks to cement its position as a regional leader
  • Interview: President Abdel Fattah El Sisi
  • Moving forward: A return to stability has allowed the country to act on a number of political and economic strategies
  • Steady does it: A renewed focus on stable growth and regional security
  • Regional ties: Expanding a crucial country’s role in the Middle East
  • Interview: Akinwumi Adesina, President, African Development Bank

ECONOMY

  • Up and running: Major policy developments and reforms are driving growth and improvements
  • Interview: Mohamed Khodeir, Chairman, General Authority for Investment
  • Interview: Anis Aclimandos, President, American Chamber of Commerce in Egypt
  • Chipping in: Tax reform set to help bring in more public revenue
  • Interview: Abdulwahab Al Bader, Director-General, Kuwait Fund for Arab Economic Development
  • Free and clear: While challenging, the currency flotation should allow for more successful development
  • Taking initiative: New programmes are expanding financing options for small and medium-sized enterprises

BANKING

  • Standing strong: Industry adjusts to economic headwinds and regulatory changes
  • Interview: Khalid Elgibali, Division President, Mastercard Middle East and North Africa
  • Currency needs: Faced with a shortage of US dollars, the central bank floats the pound to increase liquidity
  • New rules: Lending regulations with stricter criteria have been introduced, while credit to small and medium-sized enterprises is set to see a boost
  • Pause for thought: Basel III prompts African banks to reassess the one-size-fits-all prescription and their own development goals
  • Routes to finance: Private equity and venture capital players are expanding financing options for smaller companies

CAPITAL MARKETS

  • Corner the market: New reforms are set to bolster one of the MENA region’s most active exchanges
  • Trade on: A new commodities exchange would be a regional first
  • Interview: Sherif Samy, Chairman, Egyptian Financial Supervisory Authority
  • Interview: Hussein Choucri, Chairman and Managing Director, HC Securities & Investment
  • For sale: Activity on the bourse is creating confidence in the economy
  • Market analysis & data provided by HC Securities & Investment
  • Reasons for optimism: Stock market
  • Laying the foundations: Bonds
  • Invigorating the industry: Mutual funds
  • Interview: Omar El Maghawry, CEO, FEP Capital

INSURANCE

  • Catching up: The sector posts strong growth in a tough economic context
  • Interview: Corneille Karekezi, Group CEO, Africa RE (African Reinsurance Corporation)
  • Rest assured: The regulatory framework for bancassurance is among the most flexible in the region
  • Full of hope: High growth assures stakeholders of takaful’s bright future

ENERGY

  • Supply-side boost: Recent resource discoveries aim to bridge national energy deficit
  • Interview: Tarek El Molla, Minister of Petroleum and Mineral Resources
  • Revising the plan: A programme to secure more sustainable energy sources is being reassessed
  • Composition makeover: Sector undergoing reforms to regulations and the energy mix
  • Supplier investment: Private sector companies invited to import needed gas supply

INDUSTRY & RETAIL

  • Making a comeback: Despite challenges, plans for expansion bode well for the country’s diverse industry sector
  • Mind the gap: Egypt looks for new ways to supply natural gas to its industries
  • Interview: Mohamed Zaki El Sewedy, Chairman, Federation of Egyptian Industries
  • In the driver’s seat: Multiple reforms to boost local automotive content
  • One-stop shop: Egypt looks to special economic zones to attract investment and shore up industry
  • Interview: Hassan Nouh, Managing Director, Ezz Steel
  • Finding a balance: Currency troubles are affecting consumer demand and investor confidence in the manufacturing segment
  • Market demands: A young and expanding population is helping the retail sector bounce back

TRANSPORT

  • Prime location: The government and private sector are working to expand infrastructure capacity and boost productivity
  • Interview: Mohab Mameesh, Chairman and Managing Director, Suez Canal Authority
  • Running on time: Improving public transport networks remains a key priority
  • Interview: Ahmed Darwish, Chairman, General Authority for the Suez Canal Economic Zone
  • Full steam ahead: The enlargement of the Suez Canal is having immediate effects on commerce and trade

TELECOMS & IT

  • Expanding opportunity: Investment in telecoms network infrastructure is boosting revenues
  • Interview: Ashraf Sabry, CEO, Fawry
  • Speeding ahead: High-speed mobile data networks are moving closer to completion
  • Rising influence: Investment from the state and private players drives strong ICT growth
  • Outsourcing on the rise: Business process outsourcing is becoming a major source of revenues

REAL ESTATE

  • A place to call your own: Residential, commercial and retail space sees sustained demand
  • Interview: Ayman Ismail, Chairman, New Administrative Capital
  • An expanding metropolis: Egypt sees rapid development in and around its capital
  • Interview: Ahmed El Hitamy, CEO, Madinet NASR Housing and Development
  • No place like home: With a growing population, the continent looks to solve its housing shortage

CONSTRUCTION

  • Strong and dynamic: Industry sees rapid expansion as investments increase and new foreign firms enter the market
  • Interview: Osama Bishai, CEO, Orascom Construction
  • Cementing the plans: Industry players are adjusting to a changing environment
  • Crucial partnerships: The government is developing numerous large-scale projects in cooperation with the private sector
  • Building balance: The sector aims to increase contribution to GDP and fair market sharing between public and private companies

TOURISM

  • Changing tack: The industry takes a multipronged approach to regaining the country’s position as a global top travel destination
  • A wider net: New source markets and niche segments are expected to boost visitor numbers
  • Restoring confidence: Enhancing security and improving the country’s reputation abroad are ongoing priorities

AGRICULTURE & AGRO-INDUSTRY

  • Rejuvenated focus: State-led development plans bode well for agricultural output
  • Interview: Ahmed El Rashidi, Managing Director, El Rashidi El Mizan
  • Greening the desert: Ambitious plans to improve food security involve reclaiming vast tracts of desert land

HEALTH & EDUCATION

  • Top priority: Although advances have been recorded, work remains to be done in terms of access and quality of care
  • Pushing for reform: Local pharmaceuticals industry under strain due to currency devaluation and price caps
  • Stepping up: As a key pillar of the country’s development strategy, the sector is set to receive higher funding
  • Renewed focus: Taking steps to reform vocational training to better match market needs

TAX

  • Fine print: A rundown of general and new taxation regulations

LEGAL FRAMEWORK

  • Regulatory review: An overview of laws and decrees that most impact foreign operators and investors in Egypt
  • Viewpoint: Mohamad Talaat, Managing Partner, Helmy, Hamza & Partners

THE GUIDE

  • Rest easy: A sampling of hotel options
  • Listings: Important phone numbers of useful offices and organisations
  • Facts for visitors: Helpful tips for travellers
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  • Africa RE (African Reinsurance Corporation)
  • African Development Bank
  • American Chamber of Commerce in Egypt
  • Egyptian Financial Supervisory Authority
  • El Rashidi El Mizan
  • Ezz Steel
  • Fawry
  • Federation of Egyptian Industries
  • FEP Capital
  • General Authority for Investment
  • General Authority for the Suez Canal Economic Zone
  • HC Securities & Investment
  • Helmy, Hamza & Partners
  • Kuwait Fund for Arab Economic Development
  • Madinet NASR Housing and Development
  • Mastercard Middle East and North Africa
  • New Administrative Capital
  • Orascom Construction
  • Suez Canal Authority
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