{"id":639535,"date":"2017-10-31T06:31:33","date_gmt":"2017-10-31T06:31:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/31\/renaissance-capital-opens-office-in-egypt-hires-younis-from-ci-capital\/"},"modified":"2017-10-31T06:31:33","modified_gmt":"2017-10-31T06:31:33","slug":"renaissance-capital-opens-office-in-egypt-hires-younis-from-ci-capital","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/31\/renaissance-capital-opens-office-in-egypt-hires-younis-from-ci-capital\/","title":{"rendered":"Renaissance Capital opens office in Egypt, hires Younis from CI Capital"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>EM specialist Renaissance Capital opens office in Egypt, hires Younis from CI Capital as country boss<\/strong><strong>:<\/strong> Emerging markets investment bank Renaissance Capital is planning an expansion of its M&A and IPO pipeline in Egypt after officially opening Renaissance Capital Egypt SAE last week, the company said yesterday. \u201cThe firm is already working with several companies planning to raise debt in USD, with one expected to sell notes in the next three months,\u201d said our friend Ahmed Badr, MENA CEO at Renaissance Capital. \u201cRenCap has been mandated to work on an IPO set for pricing in 3Q2018. The firm is also in conversation with Egyptian companies targeting M&A opportunities outside the country, mostly in eastern Africa,\u201d he added. <strong>RenCap Egypt is applying for an investment banking license<\/strong>, which it hopes to receive in the next four to six weeks. RenCap doesn\u2019t intend to apply for a brokerage license, a market that\u2019s already saturated, said Badr.<\/p>\n<p><strong>MOVES-<\/strong> To that end, RenCap has hired former CI Capital banker <strong>Mohamed Younis<\/strong> as the new CEO of investment banking operations in Egypt. He will report to will report to Badr, who will be chairman of the board, and to RenCap\u2019s global head of investment banking James Friel. <strong>Abdalla ElEbiary<\/strong>, chairman of the Egyptian Private Equity Association, and <strong>Amr Helal<\/strong>, head of corporate private equity at Capstone Group and formerly of the Abraaj Group, will serve as non-executive members of the bank\u2019s board. \u201cThe firm is in discussions to hire four investment bankers and potentially four analysts for its Egyptian team. Mohamed Zein, RenCap\u2019s Dubai-based head of consumer research, will relocate to Cairo, where he will keep the same position,\u201d Bloomberg quotes Badr as having said.<\/p>\n<p><strong>Subsidy cuts, interest rates, commodity prices will impact the CBE\u2019s inflation targets - <\/strong><strong>Badr:<\/strong> Speaking to Bloomberg TV in an interview on Monday, Badr said that further subsidy cuts will be the biggest determining factor on whether inflation will drop below the CBE\u2019s target of under 30% this year. The big question on everyone\u2019s mind is whether the CBE will move interest rates in November or January. If they do, we can expect a flurry of investments in companies that could not pass the cost of inflation to consumers, said Badr. Another factor to watch out for is the increase in commodity prices, which is likely to impact a net-importer such as Egypt. \u201cThis is why I am not as bullish,\u201d said Badr.<\/p>\n<p><strong>On the bull market in Egypt\u2019s fixed income<\/strong>, Badr expects the rally to continue so long as interest rates stay high \u2014 Egypt is the most attractive emerging market in terms of the \u201chot money.\u201d Other factors to look for include the EGP staying cheap, which Badr expects to continue to at least mid-2018, and other global market factors. Other sectors which seem attractive include the consumer market, which has proven resilient, and tobacco, says Badr.<\/p>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2017-10-30\/full-show-bloomberg-markets-middle-east-10-30-video\"><strong>You can catch the Bloomberg show here<\/strong><\/a>(scroll forward to 1:28:30 for Badr\u2019s interview)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EM specialist Renaissance Capital opens office in Egypt, hires Younis from CI Capital as country boss: Emerging markets investment bank Renaissance Capital is planning an expansion of its M&#038;A and IPO pipeline in Egypt after officially opening Renaissance Capital Egypt SAE last week, the company said yesterday. \u201cThe firm is already working with several companies [&hellip;]<\/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-639535","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f7fa16e0-6502-496c-9db8-e93ecc8ae24d","order":"0","is_powered_by":true,"section_story_id":"2c9e3e31-3bd8-4ed0-bc53-05dd670ebf4c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[639523],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Badr is said to be leaving the emerging and frontier markets specialist to return to\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":649333,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/rencap-setting-up-shop-in-cairo\/","url_meta":{"origin":639535,"position":1},"title":"RenCap setting up shop in Cairo","author":"enterpriseam admin","date":"30 April 2017","format":false,"excerpt":"Renaissance Capital is opening an office in Cairo this year, RenCap\u2019s MENA CEO Ahmed Badr said. Pending the receipt of regulatory approvals, the emerging markets specialist expects to open the office in the next few months, Badr said, according to Reuters. Renaissance Capital is currently the second-largest foreign broker in\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":637575,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/rencap-bullish-on-egypt-calls-it-a-very-interesting-market\/","url_meta":{"origin":639535,"position":2},"title":"RenCap bullish on Egypt, calls it a \u201cvery interesting market\u201d","author":"enterpriseam admin","date":"20 November 2017","format":false,"excerpt":"Renaissance Capital has a pipeline of investment banking transactions in Cairo, Ksenia Galouchko writes for Bloomberg. \u201cA lot of the global investment banks are de-risking their portfolios, they\u2019re scaling back in Africa and none of them are entering Egypt \u2026 Egypt is a very interesting market for us,\u201d RenCap\u2019s global\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":641615,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/27\/rencap-looks-to-set-up-egypt-office-before-the-end-of-the-year\/","url_meta":{"origin":639535,"position":3},"title":"Rencap looks to set up Egypt office before the end of the year","author":"enterpriseam admin","date":"27 September 2017","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":631385,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/18\/rencap-seeking-partners-for-growth\/","url_meta":{"origin":639535,"position":4},"title":"RenCap seeking partners for growth","author":"enterpriseam admin","date":"18 March 2018","format":false,"excerpt":"Frontier markets specialist Renaissance Capital could look to broaden its shareholder base as it plans to expand into new markets such as Saudi Arabia, Bloomberg reports. \u201cJoining forces with a partner is one of the possible scenarios,\u201d Chairman Christophe Charlier says. \u201cNothing is imminent,\u201d he explained, but a partnership with\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":566078,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/26\/macro-group-taps-efg-hermes-rencap-as-advisors-on-planned-ipo\/","url_meta":{"origin":639535,"position":5},"title":"Macro Group taps EFG Hermes, RenCap as advisors on planned IPO","author":"enterpriseam admin","date":"26 May 2021","format":false,"excerpt":"Cosmetics pharma giant Macro Group Pharma has reportedly tapped EFG Hermes to quarterback its planned IPO alongside Renaissance Capital, according to a report by Al Mal quoting founder and chairman Ahmed El Nayeb. 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