{"id":593524,"date":"2019-10-01T04:00:52","date_gmt":"2019-10-01T04:00:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/non-banking-financial-services-set-to-attract-investment-and-drive-growth-in-egypt\/"},"modified":"2019-10-01T04:00:52","modified_gmt":"2019-10-01T04:00:52","slug":"non-banking-financial-services-set-to-attract-investment-and-drive-growth-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/non-banking-financial-services-set-to-attract-investment-and-drive-growth-in-egypt\/","title":{"rendered":"Non-banking financial services set to attract investment and drive growth in Egypt"},"content":{"rendered":"

Beltone sees scope for growth in Egypt, looks to regional expansion:<\/b> Egypt has become a hub for attracting investment, especially in fixed income, thanks to the attractiveness of its carry trade and the success of its economic reform program, Beltone Financial\u2019s Executive Chairman Maged Shawky told Bloomberg TV (watch, runtime 04:11<\/a>). With the region\u2019s fastest growth rate and inflation now at its lowest point in six and a half years, Egypt remains a focus for Beltone even as the investment bank looks at regional expansion on the horizon, particularly as markets like Saudi Arabia and the UAE \u201ccan\u2019t be ignored,\u201d Shawky said.<\/p>\n

Non-banking financial services will be a core engine of growth in Egypt<\/b> and should attract inward investment over the next two to five years, along with consumer-related sectors and real estate, Shawky predicts. Beltone is increasingly orienting itself towards non-banking financial services in Egypt\u2019s relatively un-banked population, he said. With declining interest rates opening up a lot of room for lending and enhancing purchasing power, these are the lines of business that will be flourishing in the coming period, he said.<\/p>\n

Despite speculation, the finance industry is unlikely to see consolidation:<\/b> Changes or difficulties in the industry have historically prompted discussions about potential M&A in the finance industry, but these ideas rarely materialize into actual plans, Shawky said. He stressed that Beltone is not looking at any potential mergers with other industry players.<\/p>\n

Austerity has been tough, but financial easing is coming:<\/b> The impact of declining inflation and interest rates will translate into lower prices in the coming period, Shawky said. He brushed off recent protests as being a natural response among the middle and lower class to the government\u2019s economic reform program, but expects prices to continue falling as long as economic stability prevails.<\/p>\n","protected":false},"excerpt":{"rendered":"

Beltone sees scope for growth in Egypt, looks to regional expansion: Egypt has become a hub for attracting investment, especially in fixed income, thanks to the attractiveness of its carry trade and the success of its economic reform program, Beltone Financial\u2019s Executive Chairman Maged Shawky told Bloomberg TV (watch, runtime 04:11). With the region\u2019s fastest […]<\/p>\n","protected":false},"author":1,"featured_media":593525,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[812,2082,72,349,125,595,100,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-beltone-financial","tag-carry-trade","tag-enterpriseam","tag-interest-rates","tag-investment-watch","tag-non-banking-financial-services","tag-policy","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3c5ce84f-0476-4f2e-8dd9-a27bf9f9f6ac","is_powered_by":true,"section_story_id":"e3c6ceb7-e20a-4ed2-b37a-040660ebf5d1","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/9\/2544.jpg","photo_position":"above","related_issue":[593506],"teaser":"","voice_url":""},"yoast_head":"\nNon-banking financial services set to attract investment and drive growth in Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/non-banking-financial-services-set-to-attract-investment-and-drive-growth-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Non-banking financial services set to attract investment and drive growth in Egypt\" \/>\n<meta property=\"og:description\" content=\"Beltone sees scope for growth in Egypt, looks to regional expansion: Egypt has become a hub for attracting investment, especially in fixed income, thanks to the attractiveness of its carry trade and the success of its economic reform program, Beltone Financial\u2019s Executive Chairman Maged Shawky told Bloomberg TV (watch, runtime 04:11). 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Shawky had previously served as vice-chairman for over seven years.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":564816,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/shuffle-at-beltone-management-following-demerger\/","url_meta":{"origin":593524,"position":3},"title":"Shuffle at Beltone management following demerger","author":"enterpriseam admin","date":"1 March 2021","format":false,"excerpt":"The EGX30 fell 0.03% at today\u2019s close on turnover of EGP 1.34 bn (7.9% below the 90-day average). Foreign investors were net buyers. The index is up 6.23% YTD.In the green: Pioneers Holding (+3.7%), Sodic (+3.3%) and Madinet Nasr Housing (+2.9%).In the red: Orascom Development Egypt (-3.5%), Heliopolis Housing (-3.1%)\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599520,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/egypts-gdp-growth-to-hit-6-this-year-driven-by-infrastructure-projects-says-beltone\/","url_meta":{"origin":593524,"position":4},"title":"Egypt\u2019s GDP growth to hit 6% this year, driven by infrastructure projects, says Beltone","author":"enterpriseam admin","date":"2 January 2019","format":false,"excerpt":"Egyptian economy to grow 6% this year, driven by infrastructure projects, says Beltone: The Egyptian economy is expected to grow at a 6% clip this year, with the expansion of GDP largely driven by major infrastructure projects, Beltone Financial\u2019s sector head of financial services, Nancy Fahmy, told Bloomberg TV (watch,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/1\/2806.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575322,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/12\/egypts-beltone-sme-to-launch-egp-1-bn-investment-fund-in-2021\/","url_meta":{"origin":593524,"position":5},"title":"Egypt\u2019s Beltone SME to launch EGP 1 bn investment fund in 2021","author":"enterpriseam admin","date":"12 October 2020","format":false,"excerpt":"Beltone SME will launch a EGP 1 bn investment fund by the end of 2021, Beltone Financial Holding CEO Ibrahim Karam told Al Mal. The fund will spend the next year lining up commitments from investors and has already logged interest from both local and international institutions, Karam said. Beltone\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=593524"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593524\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/593525"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593524"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593524"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}