Author: OBG Admin

On track for growth: Policies to increase medium- to long-term market capitalisation

Posted OBG AdminPosted in Uncategorized

  The Egyptian Exchange (EGX) is one of the oldest stock markets in the Middle East and can be traced back to 1883. It covers the main market, an over-the-counter market and the Nile Stock Exchange (Nilex), the last of which is a market for small and medium-sized enterprises. As of April 2020 there were 218 companies listed on the main market, which had a total market capitalisation of LE569.8bn ($35.1bn), and 28 listed on the Nilex, with a total market cap of LE1.6bn ($98.6m). Widely followed market indices include the EGX30 Index, a free-float, market-capitalisation-weighted index of the 30 most-actively traded companies on the

Strong vitals: With foreign reserves rising, return rates are expected to strengthen on a variety of investments

Posted OBG AdminPosted in Uncategorized

  Egypt’s capital market has been noticeably attracting foreign inflows since the floatation of the Egyptian pound in November 2016, which was part of the country’s economic reform programme agreement signed with the IMF under the $12bn extended fund facility. The currency devaluation was followed by 700 basis-point interest rate hikes, taking overnight deposit and lending rates to historical highs of 18.8% and 19.8%, respectively, in July 2017. Performance Following the implementation of economic reforms and initiatives, improvements were evident. These included an increase in

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Ensuring continuity: Free flow of essential goods is maintained as the logistics ecosystem adjusts to new global realities

Posted OBG AdminPosted in Uncategorized

  From the New Suez Canal to the East Port Said development, Egypt’s logistics ecosystem has expanded substantially in recent years despite headwinds resulting from the US-China trade war in 2019. However, as the Covid-19 pandemic began to spread across the world in early 2020, key transport connections were disrupted due to restrictions on cross-border travel. Maintaining a reliable logistics value chain therefore became simultaneously more important and more challenging. Covid-19 Effects Substantial supply and demand shocks were felt globally along logistics chains as a

George Richani-CEO-Al Ahli Bank of Kuwait

Key connections: Government increases investment in road infrastructure to ease congestion and support economic development

Posted OBG AdminPosted in Uncategorized

  Egypt’s growing population and dynamic economy have resulted in a need for greater infrastructure development over recent years. Given that cars remain Egypt’s most popular mode of personal transportation – as do trucks for carrying cargo – this need is seen most notably in its roads; Cairo and many other cities in the country display chronic traffic congestion. As such, the Egyptian government has spearheaded significant investment in the road system to ensure that it will have the capacity to cope with long-term increases

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Low tide: Modernised irrigation systems and desalination plants are central to efforts to ensure water security

Posted OBG AdminPosted in Uncategorized

  Around 98% of Egypt’s population is concentrated along the Nile Valley and Delta, and this clustering highlights Egypt’s dependence on the river as a source of water. The population of 100m consumes between 105bn and 110bn cu metres of water a year, while the Nile’s annual flow is around 55.5bn cu metres a year. The vast majority of the country is desert, and the dry climate and arid landscape mean that there is a heavy reliance on water from the Nile for agricultural irrigation.

Prasanta Das Sarma-Managing Director-Airtel Kenya

Room for more: Investment in hotel infrastructure and a focus on religious tourism are set to boost international arrivals

Posted OBG AdminPosted in Uncategorized

  Infrastructure investment is a key pillar under reforms put forward by the Ministry of Tourism and Antiquity (MoTA) in 2018. These reforms recognise the need to develop existing infrastructure and increase overall capacity. Tourist arrivals have risen steadily in recent years, reaching 12.6m in 2019. Although visitor numbers in the first half of 2020 were impacted by the spread of the Covid-19 pandemic, international tourism is expected to resume growth in 2021. Public Investment Identifying the importance of Egypt’s tourism sector as a key

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Out with the old: New education reforms to better prepare the future workforce

Posted OBG AdminPosted in Uncategorized

  In 2019 the government announced its Education 2.0 (EDU 2.0) initiative, a ambitious educational reform programme aimed at shifting the emphasis from memorisation and test taking to applied learning, and incorporating the use of technology. Investment for this transformation will come from both the government and international organisations, as a sizeable budget deficit and the Covid-19 pandemic are likely to see education spending fall below the constitution-mandated amount of 4% of GDP. Edu 2.0 When Tarek Shawki and Khaled Abdel Ghaffar – the ministers of education, and higher education and scientific research, respectively – touted the plan at the Knowledge Summit 2018 in Dubai,

Pham Hong Hai-CEO-HSBC Vietnam

Smart solutions: Rapidly evolving technology presents opportunities to improve patient care and overcome challenges

Posted OBG AdminPosted in Uncategorized

  Across the Gulf public health authorities and private institutions are investing in smart technologies to improve patient care. Data collection, sharing and analysis; DNA-driven research on precision medicine; and distance consultation and diagnostics are already being implemented in some areas of the GCC. The region’s hydrocarbons wealth is being used to support the latest research and commercial development of solutions for both medical professionals and patients. Meanwhile, the Covid-19 pandemic will be a major factor in budgetary considerations in the short term, as GCC

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

In the pipeline: The government continues to roll out initiatives aimed at spurring economic activity and attracting investment

Posted OBG AdminPosted in Uncategorized

  Ghadan 21, or Tomorrow 21, is Abu Dhabi’s Dh50bn ($13.6bn) economic accelerator programme and one of the most ambitious development strategies deployed by the emirate. Launched in September 2018, the programme represents the government of Abu Dhabi’s response to a series of external shocks, including geopolitical tensions, a low global growth scenario and a prolonged decline in oil prices that began in mid-2014. The overall ambition of Ghadan 21 is not only to spur economic growth in the short term, but also to establish

Emmanuel Macron-President of France

Unlocking development: Smaller enterprises and technology start-ups receive credit, funding and support services

Posted OBG AdminPosted in Uncategorized

  According to Abu Dhabi’s Khalifa Fund for Enterprise Development (KFED), small and medium-sized enterprises (SMEs) account for 94% of all companies in the UAE and provide jobs for 90% of the nation’s workforce. Statistics Centre – Abu Dhabi (SCAD) has established emirate-specific definitions for this important segment of the economy, by which small companies are classed as having five to 19 employees, and medium-sized businesses as employing between 20 and 49 people. Encouraging the growth of these businesses has long been a strategic ambition