Monday 11 April 2011

After the turmoil, investors' interest in Egypt remains bullish

In the midst of the popular uprising in Egypt that eventually led to the resignation of Hosni Mubarak, Marianne Ghali thought she might lose an important US$100 million (Dh367.2m) deal that had long been in the works to build a new paper mill.

The financing arrangement was just the type her company Sphinx Private Equity Management had been set up to create: private equity investments in small and medium-size businesses to take advantage of the rapid growth of Egypt's economy.

"There was a gap of one month, where all communication was down," said Ms Ghali, the chairman of Sphinx. "As soon as things started up again, I spoke to the senior management of the groups we were talking to and said 'let's take a macro position on Egypt. Are you still interested in the country'?"

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