State-backed, Africa-focused brokerage and investment promotion company to tap CEO “soon”

A new government-backed brokerage and investment promotion company has shortlisted three candidates for its CEO and will make a decision next month, said Mohamed Saad Eldin, a member of the company’s board of directors, according to the local press. The Africa-focused company is also working on finalizing other procedures, including choosing a name, Saad Eldin said. The company will be majority-owned by private investors, who will hold a 56% stake, while public sector companies will be allocated 24%. State-owned National Bank of Egypt, Banque Misr, and Banque du Caire will split the remaining 20% between them.