CAIRO: Egyptian investment bank Pharos Holding is advising on 7.5 billion Egyptian pounds ($428 million) worth of deals expected to close over the next 18 months in sectors ranging from food retail to chemicals, its chief executive said.
The deals reflect a broader move by the Cairo-based company to build up business outside the banking industry, including expanding its asset management business and entering areas such as insurance, real estate financing, and financial leasing.
Pharos has been picked as a financial adviser on about 17 deals, CEO Elwy Taymour said.
“We have actually signed the contracts to provide financial advice,” he said. “We aim to complete the deals in 18 months, worth about 7.5 billion pounds. The deals range from acquisitions, mergers and offerings on the stock exchange, to companies increasing their corporate capital.
“We are talking about companies operating in the food, retail, health care and chemical industries,” Taymour added.
Pharos is one of Egypt’s largest financial institutions, providing investment banking, asset management, securities brokerage, and book-keeping services.
Speaking from his office overlooking the Nile, Taymour said Pharos managed financial portfolios worth about 4 billion pounds — about 90 percent in debt instruments and 10 percent in shares.
He said it aimed to increase that portfolio by “between 1 to 2 billion pounds next year,” adding it was trying to attract money from abroad to bring investment to the country, rather than seeking funds from local banks.
Pharos has opened a company in Dubai that received its work permit in May, Taymour said.
“Through our office in Dubai, we seek to provide consulting services and cover the Gulf region for our customers. We are looking into having a presence in Britain,” he added.
Pharos also received licenses from Egypt’s Financial Supervisory Authority in February to operate financial leasing and microfinance — or small-scale lending — businesses.
“We have strong interest in such activities and we see great growth opportunities in them,” Taymour said.
Pharos made 120 million pounds of revenues last year and is aiming for 200-250 million pounds in 2019/2020.
The company, founded in 2005, is 70 percent-owned by the Taymour family, 20 percent by Sheikh Abdulla Al-Rajhy, and 10 percent by employees.
— Reuters
Egypt’s Pharos advising on deals worth $428 million
Egypt’s Pharos advising on deals worth $428 million
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Latest foreign trade indicators released by the country’s Ministry of Investment and Foreign Trade revealed the trade deficit narrowed by 9 percent over the 12 months, reaching around $34.4 billion, according to a statement.
This supports Egypt’s ambition to enter the global top 50 in trade performance, boost exports to $145 billion a year, and narrow the trade deficit.
It also aligns with the country’s efforts to streamline procedures, maximize the benefits of trade agreements, and protect local industry in line with international agreements.
The newly released data said: “Egyptian gold exports also saw a substantial increase, reaching $7.6 billion in 2025 compared to $3.2 billion in 2024, an increase of $4.4 billion.”
It further indicated that the largest markets for Egyptian non-oil exports in 2025 included the UAE, Turkiye, and Saudi Arabia, as well as Italy and the US.
The most important export sectors included building materials at $14.9 billion, chemicals and fertilizers at $9.4 billion, and food industries at $6.8 billion.
In October, Egypt’s credit rating was raised by S&P Global to “B” from “B-,” while Fitch reaffirmed its “B” rating, citing reform progress and macroeconomic stability.
S&P said at the time that the upgrade reflects reforms implemented over the past period by the country, including the liberalization of the foreign exchange regime, which boosted competitiveness and fueled a rebound in growth.
Prime Minister Mostafa Madbouly also said at that time that both rating agencies’ decisions signal confidence in the government’s reform agenda and its expected returns.
In September, Egypt’s Ministry of Planning, Economic Development and International Cooperation reported that the economy expanded 4.4 percent in fiscal year 2024/25, driven by a strong fourth quarter when gross domestic product growth hit a three-year high of 5 percent.
This reflects the impact of the more flexible exchange rate regime adopted since March 2024, which has helped stabilize the balance of payments and restore investor confidence.
