Egypt - Al Ahly Pharos Investment Banking aims to complete about six merger and acquisition deals this year, with a value amounting to EGP 30bn in the sectors of industry, health, education, and non-banking financial, especially consumer finance. He also added that Egypt has great opportunities in the export-related manufacturing sector, especially those under the industrial initiative with an interest rate of 11%. Haidar pointed out that the current interest rates in Egypt are high, with a likely increase in the coming period. He pointed out that changing exchange rates is a challenge to merger and acquisition deals, especially as it makes it difficult to evaluate assets. He pointed out that the stability of exchange rates will restore activity to merger and acquisition deals.

Source: Daily News Egypt June 26, 2023 14:14 UTC