EFG Hermes eyes boost from investment banking recovery | GulfNews.com:
"A strong recovery of Gulf stock markets, rising numbers of mergers & acquisition (M&A) opportunities in sub-Saharan Africa and overall revival in the debt capital markets activity in the Middle East and North Africa region is expected to boost the revenues and profits of EFG Hermes, a leading investment bank in the region.
“Liquidity is once again abundant in the GCC [Gulf Cooperation Council]. Stock valuations have recovered substantially backed by strong economic growth and corporate earnings. The valuation recovery is working as a strong incentive for many company managements to consider initial public offerings,” said Hisham Halbouny, director of investment banking
EFG Hermes sees sub-Saharan Africa as a new frontier of opportunities as economies in the region are booming with an average annual gross domestic product (GDP) growth of 7 per cent with a substantial increase in affluent middle class population that is driving demand in key sectors such as utilities, hospitality and retail.
These growth sectors are seen attracting multinationals and private equity players who are boosting M&A deal flows to these markets."
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