By: Mahmoud Gamal
Dubai – Mubasher: Shuaa Capital is eyeing a group of potential acquisition opportunities in the Middle East, including Egypt.
The UAE’s company return to the Egyptian market will pave the way for more expansion in North Africa.
While Shuaa’s main focus in Egypt is brokering and securities, it is also planning to offer a group of financial services, the company’s CEO Fouad Tariq Khan told Mubasher.
We would not have been limited to a marginal presence in the North African nation, as we targeted a firm foothold from our first day in the Egyptian market, Khan added.
According to a survey conducted by the Egyptian Exchange (EGX), Shuaa’s unit is now ranked eighth among the biggest brokerages in Egypt, the top official revealed.
Shuaa Capital is always keen on expansion, either through acquisitions or partnerships despite the challenges facing it in the region, Khan noted.
The volatility typical to the Middle East and North Africa is a major challenge for all companies operate in the region, but only resilient and well-equipped firms can stand a chance, Khan remarked.
Translated by: Muhammad Khalid
