Saudi Consumer Electronics Retailers | Turn buyers; spending pressures should ease
Spending boosts. We find reasons to believe that pressures on Saudi nationals’ income will ease, mainly thanks to the Citizen Account Programme and ongoing labour market reforms (new Nitaqat rates effective Sep-17). The government aims to disburse the cash subsidies (SAR25bn in 2017 rising to SAR60bn by 2020) to more than 12mn registrants ahead of the energy subsidy cuts and VAT. The King’s decision, in Jun-17, to retroactively reinstate bonuses and financial benefits to the public sector should also drive discretionary spending in 2H17 (disbursement end of July). However, the impact is likely to be less extensive at SAR5-6bn, compared to the 2011 and 2015 handouts (> SAR65bn each).
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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