Saudi Macro I Short-term uncertainty weighs on outlook
Downside risks rise on lower oil price. A low oil price scenario of USD45/bbl for Brent will yield larger-than-expected budget deficits of 25% of GDP in 2015e and 28% in 2016e. Public debt will rise to 70% of GDP in 2018e if the government does not tighten spending or introduce revenue reform measures. This will lead to a faster depletion of reserves, unless the government expands
borrowing from the banking sector. Given financing constraints, the government may be forced to reduce capital spending, potentially lowering growth prospects in the non-oil sector.
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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