26 April 2017
Renaissance Capital announces opening of Cairo office

Brings leading corporates and investors together in Cape Town at 2nd Egypt Investor Conference

Cape Town, 26 April 2017 – Renaissance Capital, a leading emerging and frontier markets investment bank, has concluded its second annual Egypt Investor Conference in Cape Town. The event follows on from the hugely successful inaugural conference, which was also held in Cape Town, in April 2016.

The conference was attended by leading companies from Egypt and played host to over 200 meetings between these companies and South African investors. Sectors represented included the consumer, manufacturing, banking, real estate, energy, cement and transportation industries.

Ahmed Badr, CEO, MENA, Renaissance Capital, commented: “Since we held our first conference on the region in South Africa in 2016, a lot has happened in Egypt. Reform has begun and recovery is close at hand. The companies that have come down to Cape Town to meet prominent local investment funds are using the recovery to embrace new opportunities and grow their businesses. We are pleased to be witnessing positive sentiment towards investing in the most exciting sectors of Egypt’s economy many of which are still underpenetrated.”

Mr. Badr added: “We feel it is the right time to build a stronger platform to continue facilitating access to capital for Egypt’s leading emerging investment cases and showcasing abundant opportunities to the investor community in Africa and beyond. With this in mind, we have taken a decision to establish the Firm’s presence in Cairo - I am delighted to confirm that the Renaissance Capital office is due to open there this year, pending all relevant regulatory and other authorities’ approval – in line with our MENA and Pan-Africa expansion strategy. We expect to complete the process within the next few months.”

Renaissance Capital, the second largest foreign broker in Egypt in terms of turnover in 2016, forecasts the country’s growth to be 3% this fiscal year and to double to 6% in the next three fiscal years starting in 2017/2018, which is above IMF expectations and providing ample opportunities for investment.