EFG Hermes E: and Boursa Kuwait Conclude “Stars Aligned for the Newest Emerging Market”, a Joint Virtual Investor Conference That Highlighted Kuwait’s Strong Investment Prospects
EFG Hermes and Boursa Kuwait Conclude “Stars Aligned for the Newest Emerging Market”, a Joint Virtual Investor Conference Highlighting Kuwait’s Strong Investment Prospects
Kuwait, May 29, 2022
EFG Hermes, the leading investment banking franchise in frontier emerging markets (FEM), in partnership with Boursa Kuwait, the oldest exchange in the GCC, concluded the virtual investor conference “Stars Aligned for the Newest Emerging Market” in as the 8th corporate day of the stock exchange from May 23 to 26.
The virtual event brought together executives from 13 Kuwaiti companies with over 175 international investors from over 95 institutions (USD 2 trillion in assets under management), to discuss and share information on some of the most exciting opportunities on the Kuwaiti capital markets.
Kuwait’s growing importance in emerging markets can be attributed to the 2019-2020 Emerging Markets Index upgrades, when Kuwait joined the most followed emerging market indices in the world. Subsequently, this broader investor exposure sparked fund manager interest and growth in assets under management to over $2 trillion, with the ‘Premier’ market index delivering an annualized total return in dollars. by 17% over the past five years, comfortably beating the MSCI Emerging Market Index’s 6% annualized return.
Noura Al-Abdulkareem, Head of Markets Sector of Boursa Kuwait, said: “Boursa Kuwait continues to provide opportunities for companies and investors through its series of Corporate Days, the eighth edition, which was held virtually and organized by EFG Hermes, reflects the role of the stock exchange in the growth of the Kuwaiti capital market and the national economy.”
“We were delighted to host this virtual investor conference with our long-time partner Boursa Kuwait, as this progressive exchange continues to prove this is a market to watch. As global growth is set to slow in 2022, emerging markets are a preferred destination for investors, driven by economic reform activities and attractive valuations, making the Kuwait Stock Exchange an attractive destination. In addition to rising oil prices, investors are drawn to the Kuwaiti stock market given the strong recovery in consumption after the shutdowns imposed in 2020 and the prospect of IPOs, initiatives to push further market reforms that could boost liquidity, such as the addition of margin trading, have also strengthened the position of the Kuwaiti stock market”. said Mohamed Ebeid, co-CEO of investment bank EFG Hermes.
“Volumes continue to increase on strong retailer sentiment and growing overseas interest. In 2022, revenue averaged $210 million, compared to $179 million in 2021 and $144 million in 2020. The current spike in oil prices and Russia’s withdrawal from major emerging indices fueled new foreign interest in the market, as foreigners bought $576 million in 1Q22 and $4.2 billion over the past three years,” said Ahmed Waly, Head of Brokerage at EFG Hermes. “Boursa Kuwait has become a leading regional stock exchange that follows international standards and believes in the role of the private sector in promoting the economic development of the country, and we expect it to deliver strong results in the period ahead,” he added.
Boursa Kuwait’s series of Corporate Days showcases some of the most notable listed companies and investment opportunities in the Kuwaiti capital market. Aiming to connect these companies with some of the world’s leading investment firms, asset managers and financial institutions, the events shed light on the companies’ financial health and business strategies, and provide investors with an in-depth understanding of the inherent investment opportunities.
Since its inception, Boursa Kuwait has worked diligently to create a credible exchange that promotes efficiency, transparency and a liquid capital market, through a progressive platform and a comprehensive set of changes that allow it to be competitive at the level international. Over the past five years, the company has rolled out numerous market reforms and new initiatives as part of its comprehensive multi-phase market development plans.
This is another virtual conference hosted by EFG Hermes since the COVID-19 outbreak, as the company leverages innovative platforms and continues to connect the investment community with businesses for insights. experts on hot topics and important insights from major capital markets.
About EFG Hermes Holding
With a current footprint spanning 13 countries on four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) has grown over 38 successful years from a pure-play investment bank in the MENA region to an impact-focused universal bank in Egypt with the first investment banking franchise in frontier emerging markets (FEM). With our proven track record and a diverse team of talented employees, we provide a wide range of financial services that include advisory, asset management, securities brokerage, research and private equity in the entire GEF region. In our home country, we have the fastest growing Non-Banking Financial Institutions (NBFI) platform with operations spanning Microfinance, Leasing, Factoring, Buy-Now Pay-Later (BNPL), digital payment solutions, mortgage financing and insurance.
Through its three verticals, Investment Banking, Non-Banking Financial Institutions (NBFIs) and Commercial Banking, the group is uniquely positioned to consistently bring disruptive financial products and services to market, delivering a holistic portfolio that serves its growing base of individual and business customers of all sizes.
Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Omani | Jordan | pakistan | United Kingdom | Kenya | United States | Bangladesh | Nigeria | Vietnam
Learn more about us at www.efghermes.com and stay connected with us:
For more information, please contact:
The EFG Hermes Holding Public Relations Team
May El Gammal
Group Chief Marketing & Communications Officer of EFG Hermes Holding
Note on forward-looking statements
In this press release, EFG Hermes Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts, but represent only EFG Hermes Holding’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond management’s control and include, among other things, the financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future laws, regulations and regulatory actions. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
About Boursa Kuwait
Since its establishment by the Capital Markets Authority to take over the responsibilities of the Kuwait Stock Exchange in 2014, Boursa Kuwait has worked diligently to build a progressive exchange platform based on efficiency and transparency, with a view to create long-term value for the company’s stakeholders in the economic, social and environmental dimensions.
Guided by a mission-driven strategy focused on market development in line with international standards, Boursa Kuwait has successfully introduced innovative investment tools, enhanced transparency and restructured the market to increase its competitiveness and liquidity. The company’s market developments and improvements have contributed to the reclassification of the Kuwaiti capital market to “emerging market” status in all three major global indices, strengthening Kuwait’s position as a leading financial center in the region. . A self-listed stock exchange, Boursa Kuwait is the first government entity in the country to be successfully privatized.
For more information on Boursa Kuwait’s initiatives and latest developments, visit www.boursakuwait.com.