MENA Positioning | A guide to our top equity picks
Credit and trade growth in Egypt. Our tenet for investing in the region this year is to position for prominent themes, in addition to deep value stocks— CI Capital introduces a list of picks on this basis. The most prominent of themes we foresee are: lending and trade growth in Egypt, driven by currency reforms and increasing FDI. Best-positioned plays are Crédit Agricole Egypt and Alex Containers. Ecommerce trade in the region is also nascent; Aramex trades on par with the courier industry at c17x P/E, but its higher, more diversified growth, and M&A prospects warrant a c15% premium.
CI Capital is a diversified financial services group and Egypt’s leading provider of leasing, microfinance, and investment banking products and services.
Through its headquarters in Cairo and presence in New York and Dubai, CI Capital offers a wide range of financial solutions to a diversified client base that include global and regional institutions and family offices, large corporates, SMEs, and high net worth and individual investors.
CI Capital leverages its full-fledged investment banking platform to provide market leading capital raising and M&A advisory, asset management, securities brokerage, custody and research. Through its subsidiary Corplease, CI Capital offers comprehensive leasing solutions, including finance and operating leases, and sale and leaseback, serving a wide range of corporate clients and SMEs. In addition, CI Capital offers microfinance lending through Egypt’s first licensed MFI, Reefy.
The Group has over 1,700 employees, led by a team of professionals who are among the most experienced in the industry, with complementary backgrounds and skill sets and a deep understanding of local market dynamics.
CI Capital has been recognized as the “Best Investment Bank in Egypt” by EMEA Finance for four years running from 2013-2016, and by Global Finance in 2014 and 2015.
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