Sawiris after establishing SMEs bank in Egypt

02-04-2019 11:15 PM

Egyptian business tycoon Naguib Sawiris said he has made a proposal to the Governor of the Central Bank of Egypt (CBE), Tarek Amer, to establish a bank in Egypt that would focus on small and medium enterprises (SMEs). The proposal was suggested by Sawiris during a recent meeting with Amer.

Sawiris said he had already set up a similar bank in Luxemburg, and was waiting for licence to establish one in Egypt.

Sawiris made his remarks during the Hapi investment conference held yesterday, 1 April, in Egypt. He also said he was negotiating with a number of African banks to venture into investment in the financial sector in Africa.

Watani International

2 April 2019

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