{"id":636187,"date":"2017-12-26T04:25:20","date_gmt":"2017-12-26T04:25:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/26\/efg-to-begin-factoring-services-in-1q2018-awad\/"},"modified":"2017-12-26T04:25:20","modified_gmt":"2017-12-26T04:25:20","slug":"efg-to-begin-factoring-services-in-1q2018-awad","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/26\/efg-to-begin-factoring-services-in-1q2018-awad\/","title":{"rendered":"EFG to begin factoring services in 1Q2018 -Awad"},"content":{"rendered":"

<\/a> In other EFG Hermes news, the investment bank will begin offering factoring services in 1Q2018, CEO Karim Awad said,<\/strong> according to Reuters<\/a>. \u201cWe see that the Egyptian market is the biggest one that investors can make profit in throughout the coming period,\u201d Awad said. EFG Hermes expects non-financial services to account for more than 10% of its profits in 2017 and for this percentage to grow to 50% by 2020-2021. Awad also said EFG Hermes will continue to focus on increasing its merchant banking operations and continuing its expansion into frontier markets, according to Al Mal<\/a>.<\/p>\n

EFG Hermes also has plans to manage renewable energy projects producing 400-500 MW of electricity in Egypt in the next three years<\/strong>, energy head Bakr Abdel Wahab told Reuters<\/a>. The projects targeted are worth at least USD 250 mn, he said. \u201cWe are thinking of establishing a holding company to manage energy projects, like Vortex, but in Egypt,\u201d said Abdel Wahab. EFG Hermes is looking to expand production to 1,000 MW by 2020 with USD 500 mn in capital. Abdel Wahab added that the stations EFG Hermes is investing in will be built in 1Q2018 and are set to begin operations in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

In other EFG Hermes news, the investment bank will begin offering factoring services in 1Q2018, CEO Karim Awad said, according to Reuters. \u201cWe see that the Egyptian market is the biggest one that investors can make profit in throughout the coming period,\u201d Awad said. EFG Hermes expects non-financial services to account for more than 10% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-636187","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"2d16e05d-c7f0-4044-ba9a-c0f6afbd3a7e","order":"0","is_powered_by":true,"section_story_id":"c0b3b816-af01-478a-8096-74eeb177a168","story_type":"1","photo_url":"","photo_position":"above","related_issue":[636177],"teaser":"","voice_url":""},"yoast_head":"\nEFG to begin factoring services in 1Q2018 -Awad - 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\/2017\/12\/26\/efg-to-begin-factoring-services-in-1q2018-awad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG to begin factoring services in 1Q2018 -Awad\" \/>\n<meta property=\"og:description\" content=\"In other EFG Hermes news, the investment bank will begin offering factoring services in 1Q2018, CEO Karim Awad said, according to Reuters. \u201cWe see that the Egyptian market is the biggest one that investors can make profit in throughout the coming period,\u201d Awad said. 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Revenues in 2019 reached EGP 4.8 bn, up from EGP 4 bn in 2018. On a quarterly basis, profits grew by 16%\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":[]},{"id":622112,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/efg-hermes-aims-to-have-non-bank-financial-services-deliver-50-of-profits-by-2021\/","url_meta":{"origin":636187,"position":1},"title":"EFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021","author":"enterpriseam admin","date":"27 November 2018","format":false,"excerpt":"EFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021: EFG Hermes aims for non-banking financial services to account for 30% of its total profit by year-end and 50% by the end of 2021, CEO Karim Awad told Reuters. The investment bank is looking to get\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\/2018\/11\/779.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591530,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/our-latest-making-it-guest-efg-hermes-on-growing-into-a-true-multinational\/","url_meta":{"origin":636187,"position":2},"title":"Our latest Making It guest: EFG Hermes on growing into a true multinational","author":"enterpriseam admin","date":"9 December 2019","format":false,"excerpt":"EFG Hermes Group CEO Karim Awad \u2014 whose firm cracked the top 20 in Bloomberg\u2019s Europe, Middle East, and Africa IPO league table \u2014 is our guest on the latest episode of Making It. EFG has transformed under group Awad from a home-grown champion into a true multinational \u2014 without\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\/2021\/5\/443.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631877,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/29\/efg-hermes-receives-green-light-to-launch-factoring-business-plans-to-bring-it-online-by-3q2018\/","url_meta":{"origin":636187,"position":3},"title":"EFG Hermes receives green light to launch factoring business, plans to bring it online by 3Q2018","author":"enterpriseam admin","date":"29 March 2018","format":false,"excerpt":"EFG Hermes has received regulatory approval to offer factoring services in the Egyptian market this year. 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