Organic corporate growth in Egypt expected to exceed 20%, says Lazard’s Said

Egypt is one of the only MENA countries where organic corporate growth is expected to exceed 20%, Fadi Al Said, director of MENA equity and portfolio manager at financial advisory firm Lazard, tells Bloomberg TV. The EGP devaluation and ensuing high inflation rates are still proving “some tailwinds” driving nominal growth through price adjustments, he says. “I wouldn’t say that I’m overly bullish on Egypt on a macro level; I would say that we’re betting on 100 mn people living there and that they have very low penetration in each and every sector. We’re just positioning ourselves in companies that might benefit from these trends,” Al Said says (watch, runtime: 6:06).