Rencap looks to set up Egypt office before the end of the year

Emerging markets specialist Renaissance Capital plans to begin operations in Egypt before the end of the year, Al Mal reports. CEO Ahmed Badr says Rencap has already applied for operating licenses from EFSA and the company is now finalising the setting up processes in Egypt. Badr also noted that Rencap has no plans to enter the brokerage business domestically and will stick to underwriting and financial advisory.